Halifax, January 30, 2018 – Chorus Aviation Inc. (‘Chorus’) (TSX: CHR) announced today that it will implement a Dividend Reinvestment Plan (‘DRIP’ or ‘the Plan’) starting February 1, 2018. Chorus currently pays a monthly dividend of $0.04 per share ($0.48 annually).
The DRIP will provide shareholders of Chorus who are resident in Canada the opportunity to purchase additional Chorus shares using cash dividends paid on shares enrolled in the DRIP. The benefits of enrolling in the DRIP are as follows:
convenience of automatic reinvestment of dividends in further shares;
savings from not having to pay brokerage fees or other service charges applicable to the purchase of shares acquired under the Plan;
ability to acquire fractional (as opposed to whole) shares with reinvested dividends;
flexibility to enroll some or all shares in the Plan, providing the opportunity to reinvest all or only a portion of dividends in further shares while continuing to receive the remainder in cash; and
convenient, quarterly statements for keeping track of holdings of shares.
The price for shares purchased under the Plan is 100% of the average market price; however, Chorus may, from time to time, offer a discount of up to 5% from the average market price for shares purchased under the Plan. Chorus will provide a discount of 4% from the average market price for shares purchased under the Plan until further notice. Chorus may, by way of news release, change or eliminate the discount at any time and from time to time.
AST Trust Company (Canada) (‘the Agent’) has been appointed as the Agent for the DRIP. Chorus will pay to the Agent all cash dividends which are to be reinvested on behalf of shareholders participating in the DRIP. The Agent will then use these funds to purchase additional shares on behalf of participants directly from Chorus. Proceeds received by Chorus from the issuance of shares under the Plan will be used for general corporate purposes.
Participation in the DRIP is optional and does not affect shareholders’ cash dividends, unless they elect to participate in the Plan. Dividends are payable only as and when declared by Chorus’ board of directors.
The Plan and enrollment form may be obtained from the Agent by calling 1-800-387-0825, e-mailing email@example.com, or visiting the Agent’s website at https://ca.astfinancial.com/InvestorServices/Search-DRIP. These documents are also available in the Investor Relations section of Chorus’ website at http://chorusaviation.ca/dividend-reinvestment-plan.