Enerplus Corp. (ERF.TO, ERF) said Friday that its shareholders have approved the implementation of a stock dividend program at the company's annual & special meeting.
Effective June 1, all Enerplus shareholders will now be able to receive dividends in the form of shares instead of receiving a cash dividend.
Participation in the stock dividend program is optional and allows Enerplus shareholders to continue to receive cash dividends unless they elect to participate in the stock dividend program.
As a result of receiving shareholder approval for the stock dividend program, the current dividend reinvestment plan will be terminated on May 25, the company said.
As a result, all shareholders who are currently participating in the company's dividend reinvestment plan will need to make an election to participate in the stock dividend program. Cash dividends will be paid unless shareholders make an election to participate in the stock dividend program.
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