Common Share Dividends - Investors - Birchcliff Energy

Common Share Dividends

Birchcliff Plant

SEDAR

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Subject to the approval of the Board of Directors of Birchcliff, it is currently intended that dividends will be paid on the outstanding common shares on the last day of March, June, September and December in each year, or the following business day if the dividend payment date falls on a weekend or holiday.

Birchcliff advises that all common share dividends paid have been and will be designated as “eligible dividends” for the purposes of the Income Tax Act (Canada). This designation will apply until a notification of a change is posted on this website.

TAXATION INFORMATION FOR UNITED STATES RESIDENTS

The following information is provided to holders or potential holders of common shares of Birchcliff for general information purposes only. Investors are encouraged to seek advice from a qualified tax advisor in the United States to obtain guidance with respect to the appropriate tax treatment of their common share dividends.

It has been determined that Birchcliff should be a “Qualified Foreign Corporation” and, subject to the holding period requirements discussed below, the dividend portion of its distributions should be considered “Qualified Dividends” for U.S. federal income tax purposes, and thus be eligible for the reduced tax rates applicable to long-term capital gains.

In order to qualify for the preferential capital gains rate discussed above, a United States shareholder must own the common shares for more than 60 days during the 120-day period beginning 60 days before the ex-dividend date.

Pursuant to the Canada – U.S. Tax Treaty, distributions paid to residents of the United States may be subject to a 15% Canadian withholding tax on 100% of the gross distribution. Amounts paid for foreign taxes may be eligible for a foreign tax credit in the United States; however, the foreign tax credit is subject to numerous limitations imposed by the Internal Revenue Code which are not discussed in this summary.

This information is not intended to be an exhaustive discussion of all possible income tax consequences, but a general guideline. It is not intended to be legal or tax advice to any particular holder or potential holder of common shares of Birchcliff. The holders or potential holders of common shares of Birchcliff should consult their own tax advisors as to their particular tax consequences and reporting obligations.

Dividend history for common shares

Declared Record Payable On Type Amount(CDN$)
November 28, 2018 December 17, 2018 December 31, 2018 Quarterly, Cash $0.025 
September 5, 2018 September 17, 2018 October 1, 2018 Quarterly, Cash $0.025  
May 29, 2018 June 15, 2018  July 3, 2018 Quarterly, Cash $0.025 
February 28, 2018 March 15, 2018 April 2, 2018 Quarterly, Cash $0.025
November 30, 2017  December 15, 2017  January 2, 2018  Quarterly, Cash  $0.025
September 5, 2017  September 15, 2017  October 2, 2017  Quarterly, Cash  $0.025 
May 30, 2017 June 15, 2017 June 30, 2017 Quarterly, Cash $0.025

March 1, 2017

March 15, 2017 March 31, 2017

Quarterly, Cash

$0.025