TORONTO, July 19, 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 July 2013 in the amount of $0.035 per common share (the "July Dividend").
The July Dividend will be paid on August 15, 2013 to shareholders of record at the close of business on July 31, 2013. The full amount of the July 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 July 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").
About Sprott Resource Corp.
SRC is a Canadian-based company, the primary purpose of which is to invest and operate in natural resources. Through acquisitions, joint ventures and other investments, SRC seeks to provide its shareholders with exposure to the natural resource sector for the purposes of capital appreciation and real wealth preservation. SRC is well positioned to draw upon the considerable experience and expertise of both its Board of Directors and Sprott Consulting Limited Partnership (SCLP), of which Sprott Inc. is the sole limited partner. Pursuant to a management services agreement between SCLP and SRC, SCLP provides day-to-day business management for SRC as well as other management and administrative services. SRC invests and operates through Sprott Resource Partnership (SRP), a partnership between SRC and Sprott Resource Consulting Limited Partnership, an affiliate of SCLP which is the managing partner of SRP.
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