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NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES
WIRE SERVICES
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TORONTO, Aug. 20 /CNW/ - Keystone North America Inc. ("KNA") today announced that a cash dividend of C$0.07 per common share (TSX: KNA) will be payable on September 15, 2008 to holders of record at the close of business on August 29, 2008, for the period beginning August 1, 2008 and ending August 31, 2008. KNA designates the dividend paid on its common shares (including the dividend paid on the common shares represented by income participating security ("IPS") to be an "eligible dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and its equivalent in any provinces of Canada.
IPS (TSX: KNA.UN) holders of record at the close of business on August 29, 2008, will be entitled to a payment of C$0.380735 per IPS on September 15, 2008, for the period beginning August 1, 2008 and ending August 31, 2008, reflecting: (i) a cash dividend of C$0.07 per common share; and (ii) an interest payment of C$0.310735 per C$25.716 aggregate principal amount of 14.5% subordinated notes of KNA.
KNA's policy is for holders of common shares of record on the last business day of a calendar month to receive dividend payments on the fifteenth day (or the next business day if such day is not a business day) of the next calendar month.
KNA, through its subsidiaries, is a leading owner and operator of funeral homes across the United States. KNA owns and operates funeral homes and cemeteries across the United States and the province of Ontario, making it, in management's estimate, the fifth largest funeral home operator in North America.
Forward-Looking Statement
This press release may contain forward-looking statements relating to expected future events and financial and operating results of KNA that involve risks and uncertainties. These forward looking statements reflect management's current reasonable expectations regarding future events and operating performance and speak only as of the date of this news release. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including, among others, those factors set out in the "Risk Factors" sections of KNA's Annual Information Form dated March 27, 2008 and the final short form prospectus dated April 14, 2008, which are incorporated herein by reference. However, the risk factors set out therein are not exhaustive of the factors that may affect any of KNA's forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. These assumptions, which include, management's current expectations, estimates and assumptions about the markets KNA operates in, interest rates, exchange rates and tax considerations may prove to be incorrect. Further information regarding these and other factors is included in KNA's public filings with Canadian securities regulatory authorities. Due to the potential impact of these factors, KNA disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
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For further information: please contact Steven Tidwell, Chief Executive Officer, (813) 225-4653 or stidwell@keystonegroup.com; Stephen Shaffer, Chief Financial Officer, (813) 225-4654 or sshaffer@keystonegroup.com or visit our investor website at www.keystonenorthamerica.ca.
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