Dividend History

Dividends are payable to holders of Common Shares and Class A Non-Voting Shares. Dividends paid by the Corporation in 2006 and subsequent years are considered "eligible dividends" for tax purposes until this notice is removed.

Date of Declaration Record Date Date Payable Amount Payable Per Share
May 11, 2017 Jul 31, 2017 Sept 1, 2017 $0.650
Feb 15, 2017 Apr 30, 2017 Jun 1, 2017 $0.650
Nov 9, 2016 Jan 31, 2017 Mar 1, 2017 $0.650
 Aug 4, 2016Oct 31, 2016Dec 1, 2016$0.575
May 12, 2016 Jul 31, 2016 Sept 1, 2016 $0.575
Feb 17, 2016 Apr 30, 2016 Jun 1, 2016 $0.575
Nov 12, 2015 Jan 31, 2016 Mar 1, 2016 $0.575
Aug 13, 2015 Oct 31, 2015 Dec 1, 2015 $0.525
May 14, 2015 Jul 31, 2015 Sep 1, 2015 $0.525
Feb 26, 2015 Apr 30, 2015 Jun 1, 2015 $0.525
Nov 6, 2014 Jan 31, 2015 Mar. 1, 2015 $0.525
Aug 7, 2014 Oct 31, 2014 Dec 1, 2014 $0.50
May 8, 2014 Jul 31, 2014 Sep 1, 2014 $0.50
Feb 13, 2014 Apr 30, 2014 Jun 1, 2014 $0.4375
Nov 7, 2013 Jan 31, 2014 Mar 1, 2014 $0.4375
Aug 8, 2013 Oct 31, 2013 Dec 1, 2013 $0.35
May 9, 2013 Jul 31, 2013 Sep 1, 2013 $0.35
Feb 21, 2013 Apr 30, 2013 Jun 1, 2013 $0.35
Nov 8, 2012 Jan 31, 2013 Mar 1, 2013 $0.35
Aug 9, 2012 Oct 31, 2012 Dec 1, 2012 $0.30
May 10, 2012 Jul 31, 2012 Sep 1, 2012 $0.30
Feb 9, 2012 Apr 30, 2012 Jun 1, 2012 $0.30
Nov 10, 2011 Jan 31, 2012 Mar 1, 2012 $0.30
Aug 11, 2011 Oct 31, 2011 Dec 1, 2011 $0.275
May 12, 2011 Jul 29, 2011 Sep 1, 2011 $0.275
Feb 10, 2011 Apr 29, 2011 Jun 1, 2011 $0.275
Nov 11, 2010 Jan 31, 2011 Mar 1, 2011 $0.275
Oct 7, 2010 Oct 29, 2010 Dec 1, 2010 $0.21
May 13, 2010 Jul 31, 2010 Sep 1, 2010 $0.21
Mar 11, 2010 Apr 30, 2010 Jun 1, 2010 $0.21
Dec 10, 2009 Jan 29, 2010 Mar 1, 2010 $0.21
Aug 13, 2009 Oct 30, 2009 Dec 1, 2009 $0.21
May 14, 2009 Jul 31, 2009 Sep 1, 2009 $0.21
Feb 12, 2009 Apr 30, 2009 Jun 1, 2009 $0.21
Dec 4, 2008 Jan 30, 2009 Mar 2, 2009 $0.21
Aug 7, 2008 Oct 31, 2008 Dec 1, 2008 $0.21
May 8, 2008 Jul 31, 2008 Sep 2, 2008 $0.21
Mar 6, 2008 Apr 30, 2008 Jun 2, 2008 $0.21
Dec 6, 2007 Jan 31, 2008 Mar 3, 2008 $0.185
Aug 9, 2007 Oct 31, 2007 Dec 3, 2007 $0.185
May 10, 2007 Jul 3, 2007 Sep 4, 2007 $0.185
Mar 8, 2007 Apr 30, 2007 Jun 1, 2007 $0.185
Dec 7, 2006 Jan 31, 2007 Mar 1, 2007 $0.165
Aug 10, 2006 Oct 31, 2006 Dec 1, 2006 $0.165
May 11, 2006 Jul 31, 2006 Sep 1, 2006 $0.165
Mar 9, 2006 Apr 28, 2006 Jun 1, 2006 $0.165
Dec 8, 2005 Jan 31, 2006 Mar 1, 2006 $0.145
Aug 11, 2005 Oct 31, 2005 Dec 1, 2005 $0.145
May 12, 2005 Jul 29, 2005 Sep 1, 2005 $0.145
Mar 10, 2005 Apr 29, 2005 Jun 1, 2005 $0.145
Dec 9, 2004 Jan 31, 2005 Mar 1, 2005 $0.125
Aug 10, 2004 Oct 31, 2004 Dec 1, 2004 $0.125
May 11, 2004 Jul 30, 2004 Sep 1, 2004 $0.125
Mar 11, 2004 Apr 30, 2004 Jun 1, 2004 $0.125
Dec 11, 2003 Jan 31, 2004 Mar 1, 2004 $0.10
Aug 7, 2003 Oct 31, 2003 Dec 1, 2003 $0.10
May 14, 2003 Jul 31, 2003 Sep 2, 2003 $0.10
Mar 18, 2003 Apr 30, 2003 Jun 2, 2003 $0.10
Dec 5, 2002 Jan 31, 2003 Mar 1, 2003 $0.10
Sep 19, 2002 Oct 31, 2002 Dec 1, 2002 $0.10
May 9, 2002 Jul 30, 2002 Sep 1, 2002 $0.10
Mar 8, 2002 Apr 30, 2002 Jun 1, 2002 $0.10
Dec 7, 2001 Jan 31, 2002 Mar 1, 2002 $0.10
Aug 7, 2001 Oct 31, 2001 Dec 1, 2001 $0.10
May 10, 2001 Jul 30, 2001 Sep 1, 2001 $0.10
Mar 1, 2001 Apr 30, 2001 Jun 1, 2001 $0.10
Dec 7, 2000 Jan 31, 2001 Mar 1, 2001 $0.10
Sep 7, 2000 Oct 31, 2000 Dec 1, 2000 $0.10
Jun 1, 2000 Jul 30, 2000 Sep 1, 2000 $0.10
Mar 2, 2000 Apr 30, 2000 Jun 1, 2000 $0.10
Dec 2, 1999 Jan 31, 2000 Mar 1, 2000 $0.10
Sep 2, 1999 Oct 31, 1999 Dec 1, 1999 $0.10
Jun 3, 1999 Jul 31, 1999 Sep 1, 1999 $0.10
Mar 4, 1999 Apr 30, 1999 Jun 1, 1999 $0.10

Dividend Reinvestment Plan

Capitalized terms

Capitalized terms have the meaning ascribed to such terms as defined in the Dividend Reinvestment Plan (the “Plan”), a copy of which may be obtained by visiting www.computershare.com/investorcentrecanada

Dividend Information

What is the Plan?

The Plan enables registered and non-registered holders of Eligible Shares who are residents of Canada to elect to have their cash dividends on such shares invested in newly issued Class A Non-Voting Shares. Participants will continue to be liable for any income tax which may be payable on the amounts of dividends reinvested.

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Who Can Participate?

All registered and non-registered holders of Eligible Shares who are residents of Canada are eligible to participate in the Plan. No Class A Non-Voting Shares will be offered for sale under the Plan in the United States or in any other jurisdiction except Canada. Persons who appear to be, or who the Corporation or the Agent has reason to believe are, residents of or present in the United States or in any other jurisdiction except Canada, will not be permitted to participate in the Plan.

A registered Shareholder is a Shareholder whose Eligible Shares are registered in his, her or its own name. If a Shareholder holds Eligible Shares through a Nominee, that Shareholder is most likely a non-registered Shareholder.

Many of the instructions in this Plan apply specifically to registered Shareholders. Many Shareholders who will participate in the Plan, however, are non-registered Shareholders. In general, non-registered Shareholders should contact the Nominee through which they hold Eligible Shares in order to participate in the Plan and provide instructions regarding their investment in Eligible Shares.

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How to Participate?

To participate in the Plan, a registered Shareholder must properly complete an Enrollment Form and deliver it to the Agent. Alternatively, a registered Shareholder can enroll in the Plan online from the Agent’s website at: www.computershare.com/investorcentrecanada.

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When Does Participation Begin?

A registered Shareholder will begin participating in the Plan as of the first Dividend Record Date after the Agent has received that holder’s properly completed Enrollment Form, provided that it is received no later than the Cut-Off Time on the Cut-Off Date. Enrollment can also be completed online at the Agent’s website. If the properly completed Enrollment Form is not received by the Agent prior to this deadline, the Shareholder will begin participating in the Plan as of the next Dividend Record Date. The Dividend Record Dates are generally the last Business Days in January, April, July and October in each year but can be otherwise determined by the Board.

Eligible Shares enrolled by a registered Shareholder in the Plan will remain enrolled in and will automatically continue to be enrolled in the Plan until such time as the Plan is terminated by the Corporation or until the registered Shareholder’s enrollment is terminated by the registered Shareholder or by the Corporation. The Class A Non-Voting Shares acquired under the Plan for the account of the Participant will automatically be enrolled in the Plan.

Non-registered Shareholders should contact the Nominee through which they hold Eligible Shares well in advance of any Dividend Record Date in order to give the Nominee enough time to make arrangements to enroll the non-registered Shareholder in the Plan before the related Dividend Payment Date.

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What is the Price of the Shares Purchased?

On the Dividend Payment Date, the Agent will purchase additional Class A Non-Voting Shares, including any fraction of a Class A Non-Voting Share calculated to three decimal places, from the Corporation at the Average Market Price which means a price equal to the weighted average price at which the Class A Non-Voting Shares trade on the TSX on the five trading days on which Class A Non-Voting Shares trade immediately preceding a Dividend Payment Date.

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How is the Plan Administered?

Computershare currently acts as the agent for the Participants under the Plan. If Computershare ceases to act as Plan agent for any reason, another trust company will be designated by the Corporation to act as Plan agent and Participants (or their Nominees) will be promptly notified of the change. On each Dividend Payment Date, the Corporation promptly pays to the Agent on behalf of the Participants all cash dividends paid on their Eligible Shares (including their Class A Non-Voting Shares held by the Agent under the Plan). These funds are used by the Agent to purchase additional Class A Non-Voting Shares for the Participants directly from the Corporation. All Class A Non-Voting Shares purchased under the Plan are registered in the name of the Agent or its nominee, as agent for the Participants, and credited to the Participants’ (or their Nominees’) accounts.

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How will Class A Non-Voting Shares Purchased under the Plan be Registered?

All Class A Non-Voting Shares purchased under the Plan will be registered in the name of the Agent or its nominee, as agent for Participants in the Plan. The number of Class A Non-Voting Shares held by each Participant under the Plan will be shown on each Statement of Account. Future dividends on Class A Non-Voting Shares held for a Participant will be reinvested in the Plan.

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Will Certificates be Issued for Class A Non-Voting Shares Purchased under the Plan?

Class A Non-Voting Shares purchased under the Plan will be registered in the name of the Agent or its nominee, as agent for Participants in the Plan, and certificates for such shares will not normally be issued to Participants unless specifically requested in writing by a registered Shareholder. This method of registration protects against loss, theft or destruction of share certificates. A Participant who is a registered Shareholder may, upon completing a Withdrawal Form have a share certificate issued and registered in the Participant’s name for any number of whole Class A Non-Voting Shares held for the Participant’s account under the Plan. Share certificates will be issued within three weeks of receipt of the request by the Agent. Shares withdrawn by the Participant will continue to participate in the Plan unless the Participant terminates the enrollment of all of his, her or its Eligible Shares from the Plan. In addition, any remaining whole Class A Non-Voting Shares and any fractional shares thereof will continue to be held by the Agent or its nominee for the Participant’s account under the Plan.

Class A Non-Voting Shares may, where allowed for or permitted by applicable law and subject to the eligibility and participation by the Corporation, from time to time, in any applicable direct registration system, be electronically issued without a certificate as soon as practicable following a request. No person shall be entitled to receive a certificate, by way of electronic issuance or otherwise, for any fraction of a Class A Non-Voting Share.

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How to Terminate Participation?

In order for a registered Shareholder who is a Participant to terminate participation in the Plan and resume receiving cash dividends in respect of Eligible Shares on a particular Dividend Payment Date, he, she or it must complete a Termination Form no later than the Cut-Off Time on the Cut-Off Date. When the participation of a registered Shareholder in the Plan is terminated, the Participant will receive a certificate for the number of whole Class A Non-Voting Shares held for such Participant's account together with a cash payment for any fraction of a share held for such account, which payment will be determined with reference to the closing price of the Class A Non-Voting Shares on the day prior to the effective date of termination. If the Termination Form is received by the Agent after the Cut-Off Time on the Cut-Off Date and prior to the Dividend Payment Date, the Participant's account will not be closed until after the Dividend Payment Date.

A non-registered Shareholder whose Eligible Shares are held through a Nominee should contact that Nominee in order to make arrangements for the termination of that Shareholder’s participation in the Plan.

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Where Can Additional Information and Forms be Obtained about the Plan?

A copy of the Plan, additional forms and/or information about the Plan may be obtained at any time from the Agent’s website at: www.computershare.com/investorcentrecanada or by calling toll-free 1-877-982-8768.

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