By Ketki Saxena
Investing.com -- Keyera Corp (TSX:KEY). announced on Wednesday that it has increased its quarterly cash dividend per common share by 4.2%, from $0.48 to $0.50, or $2.00 annually. The dividend for the third quarter of 2023 will be payable on September 29, 2023, to shareholders of record on September 15, 2023. The ex-dividend date is set for September 14, 2023.
This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). For non-resident shareholders, Keyera's dividends are subject to Canadian withholding tax.
"I'm pleased to announce that Keyera is returning to its long history of sustainable dividend growth," said Dean Setoguchi, President and CEO of Keyera Corp. He further added that "Dividend growth is supported by the growth and stability of our fee-for-service business segments."
Keyera Corp., a Canadian-based energy infrastructure business, operates extensive interconnected assets and demonstrates a depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage, and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta.