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TORONTO, ONTARIO--(Marketwired - Mar 17, 2016) - Park Lawn Corporation (TSX VENTURE:PLC) (the "Company" or "Park Lawn") announced today that the monthly dividend of $0.038 per share will be payable on April 15th, 2016 to shareholders of record at March 31st, 2016.
The Company offers a Dividend Reinvestment Plan ("DRIP") which allows eligible shareholders of Park Lawn to reinvest their cash dividends into additional common shares of Park Lawn, which will be issued from treasury (or purchased on the open market) on the applicable dividend payment date. If common shares are issued from treasury, the price at which such common shares are issued will be the volume weighted trading price of the Company's common shares over the five business days immediately preceding such dividend payment date less a discount, if any, of up to 5%, at the Company's election. The Company has set the current discount for purchases under the DRIP at 3%. The Company may, subject to the terms of the DRIP, alter or eliminate any discount at any time.
An eligible shareholder may enroll in the DRIP by completing an enrollment form and returning it to Equity Transfer Services Inc. (the "Administrator"). A completed enrollment form must be received by the Administrator no later than 3:00 pm EST on March 24, 2016 to reinvest the March 2016 dividend.
The full text of the DRIP and an enrollment form are available on the Company's website at www.parklawncorp.com. Shareholders should carefully read the complete text of the DRIP before making any decisions regarding their participation in the DRIP. Beneficial shareholders who hold their shares through a nominee and who wish to participate in the DRIP should contact their nominee to enquire about enrollment.
In connection with the Company's February 2016 dividend (paid on March 15th, 2016), 562 common shares were issued from treasury. To the Company's knowledge, approximately 7.65% of such common shares were issued to insiders of the Company.
About Park Lawn
Park Lawn Corporation provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold to people on a pre-planned basis (pre-need) or at the time of a death (at-need). The Company owns and operates six cemeteries in the Greater Toronto Area and operates the crematorium at the Brampton Crematorium and Visitation Centre. The Company also owns 50% of Amety Ltd., which operates Tubman/Cadieux Funeral Homes in Ottawa and Western Quebec. The Harmonia business of the Company currently operates in Quebec City, Laval, Saint-Apollinaire, Montreal and the Beauce Region under license. In October 2014, the Company acquired a 50% stake in six funeral homes in Manitoba and Saskatchewan. Park Lawn's common shares are listed on the TSX Venture Exchange under the symbol "PLC". The Company is the only Canadian publicly listed cemetery, funeral and cremation business. Park Lawn makes monthly dividend payments to its shareholders. The monthly dividend has been paid each month since January, 2011 and is currently $0.038 per share ($0.46 per share on an annual basis).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Park Lawn Corporation
Chairman & Chief Executive Officer