Ag Growth International Inc. (TSX:AFN) (the "Corporation" or "Ag Growth") announced that it has adopted a dividend reinvestment plan (the "DRIP").
Ag Growth is pleased to offer its shareholders the opportunity to participate in its DRIP, which enables eligible shareholders to reinvest all or part of their cash dividends into additional common shares ("Common Shares") of the Corporation in an efficient and cost effective manner without incurring any commissions, service charges or brokerage fees under the DRIP.
Eligible shareholders who elect to reinvest dividends under the DRIP will initially receive Common Shares issued from treasury at a discount of 4% from the market price of the Common Shares, with the market price being equal to the volume-weighted average trading price of the Common Shares on the Toronto Stock Exchange for the five trading days preceding the applicable dividend payment date.
Since the DRIP gives the Corporation the option of buying shares on the Toronto Stock Exchange, issuing new shares from treasury or choosing a combination of the two, any decision made by the board of directors to change either the purchase method or the discount granted on the purchase price of shares issued from treasury will be communicated by press release.
Shareholders who wish to participate in the DRIP should contact their broker, financial institution, or other nominee through which their Common Shares are held to determine their eligibility and provide appropriate enrolment instructions, and to ensure any deadlines or other requirements that such broker, financial institution, or nominee may impose or be subject to are met.
A complete copy of the DRIP will be available on Ag Growth's website at www.aggrowth.com. Shareholders should carefully read the complete text of the DRIP before making any decisions regarding their participation in the DRIP.
Participation in the DRIP does not relieve shareholders of any liability for taxes that may be payable in connection with dividends that are reinvested in new Common Shares under the DRIP. Shareholders should consult their tax advisors concerning the tax implications of their participation in the DRIP having regard to their particular circumstances.
Please note that participation in the DRIP requires a shareholder own a minimum of 100 Common Shares and that participation by shareholders that are not resident in Canada may be restricted.
About Ag Growth
Ag Growth is a leading manufacturer of portable and stationary grain handling, storage and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment and grain drying systems. Ag Growth has eleven manufacturing facilities in Canada, the United States, the United Kingdom and Finland, and its sales, marketing, and distribution system distributes product in 48 states, nine provinces, and internationally.
SOURCE: Ag Growth International Inc.
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