Canadian oil and gas producer Enerplus (NYSE:ERF) announced yesterday its September monthly dividend of Canadian $0.09 per share, which is equivalent to U.S. $0.09 per share at an exchange rate of 0.9510.
The board of directors said the dividend is payable on September 20 to holders of record at the close of business on September 5. The dividend is considered an "eligible dividend" for Canadian tax purposes and a "qualified dividend" for U.S. tax purposes.
Enerplus' dividends are paid from the cash flow generated from the sale of its oil and natural gas production and paid to shareholders of record on the fifth day of the month. Dividends have been paid to Canadian shareholders since 1990 while they've been paid to U.S. shareholders since 2001.
The regular dividend payment equates to a $1.08-per-share annual dividend, yielding 6.6% based on the closing price today of Enerplus' stock.