Superior Plus Announces January 2023 Cash Dividend

January 2023 Cash Dividend: $0.06 per share

TORONTO, January 06th, 2023–(BUSINESS WIRE)–Superior Plus Corp. (“Superior”) (TSX:SPB) today announced its cash dividend for the month of January 2023 of $0.06 per share payable on February 15, 2023. Record date is January 31, 2023, and ex-dividend date January 30, 2023. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is eligible for Canadian income taxes.

A summary of Superior’s dividends paid for the year 2022 is detailed below. These dividends are eligible for Canadian income tax purposes.

Change to Quarterly Dividend Payments

Superior plans to change its current practice of monthly dividend payments to a quarterly common stock dividend payment. This will take place following the March 2023 monthly dividend. Quarterly dividends will be paid to shareholders of record on 10th of the month. They will be made on the final business day of March and June, September and October. The record date will not be adjusted if the record date falls on the weekend or on a statutory holidays. The Board of Directors must approve the payment of the first quarterly dividend. It is expected that it will be made in June 2023.

About the Corporation

Superior is a North American distributor of propane and distillates as well as other products and services. Superior has approximately 890,000.

For further information about Superior, please visit Superior’s website at: www.superiorplus.com Contact Beth Summers, Executive Vice president and Chief Financial Officer, Tel. (416) 34-6015 or Rob Dorran Vice President Capital Markets Tel. (416) 345-6003, E.mail: [email protected], Toll-Free: 1-866-490-PLUS (7587).

Forward-looking information
This news release contains certain forward-looking information and statements based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and perception of historical trends. This news release contains forward-looking information and statements. You can identify them by terms such as “will”, “expects”, “annualized”, or similar expressions.

In particular, this news release contains forward-looking statements and information relating to: future dividends, which may be declared on Superior’s common shares; the timing and the amount of such dividend payments; and the expected tax treatment thereof. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms promptly. These forward-looking statements are not guarantees of future performance and are subject to several known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading “Risk Factors” in Superior’s management’s discussion and analysis and annual information form for the year ended December 31, 2021, which can be found at www.sedar.com.

Readers are reminded that unexpected events and circumstances can cause results to be different from what was predicted, forecasted, or projected. These forward-looking statements should be qualified by the statements above. Superior is not obligated to update or revise any forward-looking statements or information in this document, except as required under applicable laws.

Businesswire.com – View the source version https://www.businesswire.com/news/home/20230106005317/en/

Contacts

Beth Summers, Executive Vice President & Chief Financial Officer
Tel: (416) 340-6015
Or
Rob Dorran Vice President Capital Markets
Tel: (416) 340-6003
E-mail: [email protected]
Toll-Free: 1-866-490-PLUS (7587).