Enerplus Keeps Monthly August Dividend Steady

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Canadian oil and gas producer Enerplus announced today its August monthly dividend of $0.09 Canadian per share, which is equivalent to $0.09 U.S. per share at an exchange rate of 0.9674.

The board of directors said the dividend is payable on August 20 to holders of record at the close of business on August 2. The dividend is considered an "eligible dividend" for Canadian tax purposes, and a "qualified dividend" for U.S. tax purposes.

Enerplus' dividends are paid from the cash flow generated from the sale of its oil and natural gas production and paid to shareholders of record on the fifth day of the month. Dividends have been paid to Canadian shareholders since 1990 while they've been paid to U.S. shareholders since 2001.

The regular dividend payment equates to a $1.08-per-share annual dividend, yielding 6.5% based on the closing price today of Enerplus' stock.

ERF Dividend Chart

ERF Dividend data by YCharts.

The article Enerplus Keeps Monthly August Dividend Steady originally appeared on Fool.com.

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