On December 17, 2019, AltaGas announced that its Board of Directors approved the suspension of the Dividend Reinvestment™ Component of the Premium Dividend™, Dividend Reinvestment and Optional Cash Purchase Plan (the "Plan") applicable to any future declared dividends, until further notice.
Accordingly, the December dividend payable on January 15, 2020 to shareholders of record will be the last dividend payment eligible for reinvestment by participating shareholders under the DRIP. With this suspension of the DRIP together with the suspension at the end of 2018 of the PDRIP component of the Plan, the Plan in its entirety will remain suspended until further notice.
Dividend Reinvestment Plan
AltaGas has adopted a Dividend Reinvestment and Optional Cash Purchase Plan (“Plan”) for holders of common shares of AltaGas Ltd. (“AltaGas”).
The Plan provides eligible shareholders of AltaGas, with the opportunity to have their common share dividends reinvested in additional common shares of AltaGas issued at a discount of between 0 and 5 percent to the Average Market Price (as defined in the Plan).
The Plan allows the Board of Directors of AltaGas to set the discount under the Dividend Reinvestment Component of the Plan at a rate between 0 and 5 percent to the Average Market Price. Until otherwise announced by AltaGas, the Board of Directors of AltaGas have set the discount rate under the Dividend Reinvestment Component of the Plan at 3 percent to the Average Market Price.
Eligible shareholders who are enrolled in the Dividend Reinvestment Component of the Plan also have the opportunity to purchase new common shares of AltaGas at the Average Market Price (with no discount) on the applicable dividend payment date under the Optional Cash Payment Component (the “OCP Component”) of the Plan.
If you wish to participate in the Plan, eligible registered shareholders must enroll directly with Computershare Trust Company of Canada, while eligible beneficial shareholders should contact their broker, investment dealer, financial institution or other nominee through which shares are held, as they must enroll on your behalf.
Participation in the Plan is optional. A registered eligible shareholder who was enrolled in the Previous Plan will automatically be deemed to be a participant in the Dividend Reinvestment Component of the Plan, without any further action on their part. A beneficial owner of Shares (i.e., a holder of Shares that are not registered in the beneficial owner's name but are instead held through a broker, investment dealer, financial institution or other nominee) who was validly enrolled, through the nominee holder, in the Previous Plan should contact such nominee holder to confirm continued participation in the Dividend Reinvestment Component of the Plan.
Trustee, Registrar and Transfer Agent
Computershare Trust Company of Canada
100 University Avenue, 8th Floor, North Tower
Toronto, Ontario M5J 2Y1
Or the National Contact Center at
North America: 1-800-564-6253
Outside of North America: 514-982-7555
Or by visiting www.investorcentre.com/service