May 11, 2012
CALGARY, May 11, 2012 /CNW/ - Enerplus Corporation ("Enerplus" or the "Corporation") (TSX: ERF) (NYSE: ERF) is pleased to announce that shareholders today approved the implementation of a Stock Dividend Program ("SDP") at our Annual & Special Meeting.
Effective June 1st, 2012, all Enerplus shareholders will now be able to receive dividends in the form of shares instead of receiving a cash dividend. Participation in the SDP is optional and allows Enerplus shareholders to continue to receive cash dividends unless they elect to participate in the SDP.
Benefits of the SDP
All shareholders are advised to consult their own tax advisors regarding the tax consequences to them of receiving cash or stock dividends. For more details discussing the potential tax consequences of the SDP, please refer to Enerplus' Management Information Circular dated March 9, 2012 filed on SEDAR and EDGAR and available on our website at http://www.enerplus.com/investor/financial/reports.cfm.
How to Enroll in the SDP
Shareholders wishing to participate in the SDP should contact their broker or intermediary or, in the case of registered shareholders, contact our transfer agent, Computershare Trust Company, or visit our website to obtain the necessary enrolment forms.
Termination of the Current Dividend Reinvestment Plan
As a result of receiving shareholder approval for the SDP, the current Dividend Reinvestment Plan ("DRIP") will be terminated on May 25, 2012. As a result, all Shareholders who are currently participating in our DRIP program will need to make an election to participate in the SDP and must either contact their broker to enroll or if they are a registered shareholder, complete the enrolment forms available on our website. Cash dividends will be paid unless Shareholders make an election to participate in the SDP.
Gordon J. Kerr
President & Chief Executive Officer
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans" and similar expressions, are forward-looking information that represents management of Enerplus' internal projections, expectations or beliefs concerning, among other things, future payments of dividends, future operating results and various components thereof or the economic performance of Enerplus. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Enerplus' actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Enerplus' filings with the Canadian and U.S. securities authorities. Accordingly, holders of Enerplus shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted.