CALGARY, ALBERTA - March 16, 2015 /CNW/ - Newalta Corporation (TSX:NAL) announced that it has declared a quarterly cash dividend of $0.125 per common share for the first quarter of 2015, payable on April 15, 2015 to all shareholders of record on March 31, 2015. The ex-dividend date is March 27, 2015.
On February 19, 2015, the Board of Directors suspended the Dividend Reinvestment Plan (DRIP), effective with the dividends payable on April 15, 2015, to eliminate the dilution associated with the issuance of Shares through the DRIP.
Newalta expects that the dividends will be "eligible dividends" for income tax purposes and thus qualify for the enhanced gross-up and tax credit regime for certain shareholders.
Newalta is a leading provider of innovative engineered environmental solutions that enable customers to reduce disposal, enhance recycling, and recover valuable resources from oil and gas exploration and production waste streams. We serve customers onsite directly at their operations and through a network of more than 50 locations in Canada and the U.S. Our proven processes and excellent record of safety make us the first choice provider of sustainability-enhancing services for oil and gas customers. With a skilled team of more than 1,200 people, a two-decade track record of profitable expansion and a commitment to commercializing new solutions, Newalta is positioned for sustained future growth and improvement. Newalta trades on the TSX as NAL. For more information, visit www.newalta.com.