Enerplus Sets June Dividend of $0.09

Canadian oil and gas producer Enerplus  announced yesterday its June monthly dividend of $0.09 Canadian per share, which is equivalent to $0.09 U.S. per share at an exchange rate of 0.9699.

The board of directors said the quarterly dividend is payable on June 20 to the holders of record at the close of business on June 5. The dividend is considered an "eligible dividend" for Canadian tax purposes, and a "qualified dividend" for U.S. tax purposes.

Enerplus's 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 6.7% based on the closing price of Enerplus's stock on May 23.

ERF Dividend Chart

ERF Dividend data by YCharts

The article Enerplus Sets June Dividend of $0.09 originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story