$SCP.TO - $SCZPF - Sprott Resource Corp. Declares May Dividend
http://www.sprottresource.com/investors/press-releases/press-release/?prId=122620
ORONTO, May 21, 2013 /CNW/ - Sprott Resource Corp. ("SRC") (TSX: SCP) announced today that its Board of Directors has declared a dividend in respect of the month of May 2013 in the amount of $0.035 per common share (the "May Dividend").
The May Dividend will be paid on June 17, 2013 to shareholders of record at the close of business on May 31, 2013. The full amount of the May Dividend is designated as an "eligible dividend" for purposes of the Income Tax Act (Canada).
SRC has a Dividend Reinvestment Plan (the "Plan") for Canadian resident shareholders of common shares of SRC. The Plan provides a convenient and cost-effective method for eligible holders in Canada to maximize their investment in SRC by reinvesting their monthly cash dividends to acquire additional SRC common shares. A discount in the purchase price of 5% will apply on dividend reinvestment shares purchased from SRC.
Dividend Policy
As previously announced, SRC's Board of Directors approved a policy (the "Dividend Policy") pursuant to which SRC intends to pay a monthly dividend at least equal to 0.833% of SRC's total equity attributable to shareholders ("SRC's Book Value") based on the most recently filed financial statements of SRC at the time the dividend is declared. The amount of future monthly dividends will accordingly fluctuate quarterly with SRC's Book Value.
The May Dividend is based on SRC's Book Value as at March 31, 2013.
Dividend Reinvestment Plan
For more information about the Plan, or to request or download a copy of the detailed Plan Offering Circular, please contact the Plan Agent, CIBC Mellon Trust Company, via its administrative agent Canadian Stock Transfer Company Inc. ("CST"), by phone at 1-800-387-0825 or 416-682-3860, by e-mail to inquiries@canstockta.com, or visit CST's website at www.canstockta.com (go to "Investor Services" and "Dividend Reinvestment Plans"). A copy of the Plan Offering Circular is also available on our website at www.sprottresource.com (go to "Investors" and "DRIP Information").