TORONTO, ON and TAMPA, FL--(May 6, 2015) - Cott Corporation (
The Company also announced today that Cott's Board of Directors has approved a dividend reinvestment plan ("DRIP") with an effective date of May 18, 2015. Subject to approval by the Toronto Stock Exchange, the DRIP will be implemented by the Company and eligible holders of Common Shares may begin enrolling in the DRIP on May 18, 2015.
The DRIP allows eligible holders of Common Shares to reinvest cash dividends paid in respect of their Common Shares to acquire additional Common Shares.
Common Shares purchased under the DRIP will, at the Company's election, be issued from treasury by the Company or purchased on the open market through the New York Stock Exchange. If the Company elects to issue Common Shares from treasury upon the reinvestment of cash dividends under the DRIP, the Common Shares will be purchased at a price equal to the average of the high and low prices of Common Shares actually traded on the New York Stock Exchange on the five trading days immediately preceding the dividend payment date on which not less than 100 Common Shares were traded (the "Average Market Price"), less a discount, if any, of up to 5%, at the Company's election. The Company has determined not to establish an initial discount to the Average Market Price for purchases upon the reinvestment of cash dividends under the DRIP. The Company may, subject to the terms of the DRIP, set, alter or eliminate any discount at any time.
Holders of Common Shares who are resident in Canada or in the United States and hold at least one whole Common Share are eligible to participate in the DRIP. Holders of Common Shares resident outside Canada or the United States may also participate in the DRIP unless participation is not permitted in that jurisdiction. Eligible shareowners may elect to participate in the DRIP commencing with the Q1 Dividend.
The full text of the DRIP and enrollment information are available under the "For Investors" section of the Company's website located at www.cott.com or from Computershare Trust Company of Canada (the "Plan Agent") online at www.investorcentre.com. Eligible non-registered beneficial shareowners who wish to participate in the DRIP should contact their investment advisor, bank or brokerage firm for information on how to participate in the DRIP. Registered shareowners may enroll directly through the Plan Agent online at www.investorcentre.com.
Shareowners should carefully read the complete text of the DRIP before making any decisions regarding participation in the DRIP.
ABOUT COTT CORPORATION
Cott is one of the world's largest producers of beverages on behalf of retailers, brand owners and distributors, and has one of the broadest home and office bottled water and office coffee services distribution networks in the United States, with the ability to service approximately 90 percent of U.S. households, as well as national, regional and local offices.
Cott produces multiple types of beverages in a variety of packaging formats and sizes, including carbonated soft drinks, 100% shelf stable juice and juice-based products, clear, still and sparkling flavored waters, energy drinks and shots, sports drinks, new age beverages, ready-to-drink teas, beverage concentrates, liquid enhancers, freezables and ready-to-drink alcoholic beverages, as well as hot chocolate, coffee, malt drinks, creamers/whiteners and cereals. Cott's large manufacturing footprint, broad distribution network, substantial research and development capability and high-level of quality and customer service enables Cott to offer its customers a strong value-added proposition of low cost, high quality products and services. In addition, Cott is now a national direct-to-consumer provider of bottled water, office coffee and water filtration services offering a comprehensive portfolio of beverage products, equipment and supplies to approximately 1.5 million customer locations through its network of over 180 sales and distribution facilities and daily operation of over 2,200 routes.
With approximately 9,500 employees, Cott operates approximately 60 manufacturing facilities and 180 distribution facilities in the United States, Canada, the United Kingdom and Mexico. Cott also develops and manufactures beverage concentrates, which it exports to approximately 50 countries around the world.
SAFE HARBOUR STATEMENTS
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and forward-looking information within the meaning of applicable Canadian securities law (collectively, "forward-looking statements") conveying management's expectations as to the future based on plans, estimates and projections at the time Cott makes the statements. Forward-looking statements involve inherent risks and uncertainties and Cott cautions you that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement. The forward-looking statements contained in this press release include, but are not limited to, statements related to the DRIP, including approval of the DRIP by the Toronto Stock Exchange and the implementation of the DRIP by the Company. The forward-looking statements are based on assumptions regarding management's current plans and estimates. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate.
Readers are cautioned not to place undue reliance on any forward-looking statements. Readers are urged to carefully review and consider the various disclosures, including but not limited to risk factors contained in Cott's Annual Report on Form 10-K and its quarterly reports on Form 10-Q, as well as other filings with the securities commissions. Any forward-looking statements made in this press release are made as of the date hereof and Cott does not undertake to update or revise any of these statements in light of new information, future events or otherwise, except as expressly required by applicable law.