Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Marret Resource Board Approves Dividend Reinvestment Plan

12/13/2012 1:38 PM ET

Marret Resource Corp. (MAR.TO: Quote) announced that its Board has approved a dividend Reinvestment Plan for the company's shareholders other than shareholders who are U.S. Persons. The Plan will commence on December 31, 2012. The Toronto Stock Exchange has approved the Plan.

The company also announced that it intends to pay dividends on its common shares on a monthly basis beginning in 2013.

The company stated that the plan allows Eligible Shareholders to direct cash dividends paid on their Shares and be reinvested in additional Shares which will be, at Marret's discretion, either newly issued Shares purchased from treasury or "Treasury Purchase" or Shares purchased through the facilities of the TSX or alternative Canadian markets or "Market Purchase".

In each press release announcing the declaration of a cash dividend, Marret will announce whether the Shares under the Plan with respect to such cash dividend will be purchased by way of Treasury Purchase or Market Purchase and, if by Treasury Purchase, any applicable discount from the purchase price.

In the case of Treasury Purchases, the price will be the average of the daily volume weighted average price of the Shares traded on the TSX for the ten trading days immediately preceding the applicable dividend payment date, less a discount, if any, of up to 3% at the Company's election.

In the case of Market Purchases, the price will be the average market price, excluding any brokerage commissions, of all Shares so purchased for participants by Computershare Trust Company of Canada through the Canadian open markets, which include the facilities of the TSX and/or alternative Canadian markets.

Register
To receive FREE breaking news email alerts for Marret Resource Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Restaurant operator Yum! Brands Inc. said Tuesday after the markets closed that its first quarter profit rose 18% from last year, helped by strong performance of its China division. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. After trending higher over the past several sessions, stocks saw some further upside during trading on Tuesday. A positive reaction to the latest corporate news contributed to the continued buying interest, lifting the Dow and the S&P 500 back near their record highs. In a blow to supporters of affirmative action, the Supreme Court on Tuesday upheld a voter-approved ban on using race as a factor in college admissions at Michigan's state-run universities. The court ruled 6 to 2 that the state law banning the use of racial preferences does not violate the U.S. Constitution, although the court was splintered on the reasoning for the decision.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.