Building on our success

Share Information

Taxation Overview

Certarus Shareholders - Section 85 Election

On May 31, 2023, Superior announced the completion of the previously disclosed acquisition by way of a plan of arrangement of Certarus Ltd.

News release announcing the proposed acquisition

News release announcing the completion of the acquisition

Certarus Ltd. Management Information Circular, with respect to an arrangement involving Certarus Ltd. and Superior Plus Corp.

Superior has agreed to make a Section 85 Election with an Electing Holder that received Superior Shares pursuant to the Arrangement. In certain cases, this election is required if the Electing Holder wishes to obtain a full or partial tax deferral in respect of the disposition of their Certarus Ltd. shares. See instruction letter linked here.

The timeline to make an election has now passed.

Canadian Taxpayers

The following is intended to provide individual shareholders of Superior Plus with additional information to assist in the preparation of their 2022 Canadian T1 Income Tax returns. The information presented is general in nature and cannot possibly address every situation experienced by all investors. This material is not intended to replace professional investment or tax advice.

Shares held within a Registered Retirement Savings Plan (RRSP), a Registered Retirement Income Fund (RRIF), or a Deferred Profit Sharing Plan (DPSP):

If the investment in the shares of Superior is held within one of these plans, income earned in respect of the shares is not subject to tax in the year. Instead, the amount of capital and any earnings in the plan are taxed only on withdrawal from the plan.

Shares held outside of an RRSP, RRIF or DPSP:

Shareholders with an investment outside of an RRSP, RRIF, or DPSP who received dividends will receive a “T5 Supplementary” tax slip, which is required to be mailed on or before February 28, 2023. Please note that if the shares are registered in the investor’s name, the T5 will be sent directly from Superior Plus to the shareholder. However, if the shares are held in the name of a broker (i.e. in “street form”), the shareholder will need to obtain a T5 tax slip from the broker.

U.S. Taxpayers

Information for U.S. Resident Taxpayers

The following information is provided for general information only and should not be construed to be legal or tax advice to any shareholder. Shareholders are encouraged to seek advice from a qualified tax advisor in their country or residence to obtain guidance with respect to the appropriate tax treatment of their distributions.

Superior Plus has made an election to be taxed as a corporation for U.S. tax purposes. As a result, any distribution made on a share by Superior Plus is treated as foreign-source dividend income under U.S. federal income tax principles, reportable on a Form 1099. This treatment of the distributions is based on the fact that we have not determined our current or accumulated earnings and profits. In the absence of such information, we believe that a United States resident should report our distributions as fully subject to United States federal income tax.

Providing the applicable holder-level requirements are met, we believe that these distributions would be treated as “qualified dividends,” eligible for taxation at reduced rates under U.S. federal income tax legislation.

U.S. Non-Resident Withholding Tax Information

Effective January 1, 2012, the Canadian Revenue Agency has asked all paying trust agents, including Computershare, which administers Superior Plus’s dividend payments, to withhold a statutory rate of 25% from all applicable payments or credits.

In order to be considered for the preferred treaty rate, U.S. shareholders must provide Computershare with a NR301 – Declaration of Eligibility for Benefits Under a Tax Treaty for a Non-Resident Taxpayer. A link to this form is provided below. Additionally, a copy of the letter, which provides additional details, is also provided below.

Computershare letter – CRA Letter to Holders

NR 301

Treatment of Distributions

Annual cash distribution / dividend summary

Dividends

Dividend Payment Details

Following the March 2023 dividend payment, the company will be switching to quarterly dividend payments of $0.18 per common share. The annualized dividend amount per common share will remain consistent at $0.72. The record date for each quarterly dividend will be the last day of the quarter and payment will be made on the fifteenth day of the following month, or the next business day if the fifteenth day falls on a weekend or holiday.

Overview

The Superior Plus operating model provides stable free cash flow to invest in growth while offering sustainable dividends to shareholders.

The following chart shows cumulative dividends paid to shareholders since inception.

Dividends Paid Since Inception

Historical Dividends (2009 to Current)

Following is an historical summary of dividends paid to Superior Plus shareholders from 2009 to current.

Record Date Payment Date Dividend

December 29, 2023

January 15, 2024

$0.18

September 29, 2023

October 16, 2023

$0.18

June 30, 2023

July 17, 2023

$0.18

March 31, 2023

April 17, 2023

$0.06

February 28, 2023

March 15, 2023

$0.06

January 31, 2023

February 15, 2023

$0.06

December 31, 2022

January 16, 2023

$0.06

November 30, 2022

December 15, 2022

$0.06

October 31, 2022

November 15, 2022

$0.06

September 30, 2022

October 17, 2022

$0.06

August 31, 2022

September 15, 2022

$0.06

July 31, 2022

August 15, 2022

$0.06

June 30, 2022

July 15, 2022

$0.06

May 31, 2022

June 15, 2022

$0.06

April 30, 2022

May 13, 2022

$0.06

March 31, 2022

April 18, 2022

$0.06

February 28, 2022

March 15, 2022

$0.06

January 31, 2022

February 15, 2022

$0.06

December 31, 2021

January 14, 2022

$0.06

November 30, 2021

December 15, 2021

$0.06

October 31, 2021

November 15, 2021

$0.06

September 30, 2021

October 15, 2021

$0.06

August 31, 2021

September 15, 2021

$0.06

July 31, 2021

August 13, 2021

$0.06

June 30, 2021

July 15, 2021

$0.06

May 31, 2021

June 15, 2021

$0.06

April 30, 2021

May 14, 2021

$0.06

March 31, 2021

April 15, 2021

$0.06

February 28, 2021

March 15, 2021

$0.06

January 31, 2021

February 12, 2021

$0.06

December 31, 2020

January 15, 2021

$0.06

November 30, 2020

December 15, 2020

$0.06

October 31, 2020

November 13, 2020

$0.06

September 30, 2020

October 15, 2020

$0.06

August 31, 2020

September 15, 2020

$0.06

July 31, 2020

August 14, 2020

$0.06

June 30, 2020

July 15, 2020

$0.06

May 31, 2020

June 15, 2020

$0.06

April 30, 2020

May 15, 2020

$0.06

March 31, 2020

April 15, 2020

$0.06

February 28, 2020

March 13, 2020

$0.06

January 31, 2020

February 14, 2020

$0.06

December 31, 2019

January 15, 2020

$0.06

November 30, 2019

December 13, 2019

$0.06

October 31, 2019

November 15, 2019

$0.06

September 30, 2019

October 15, 2019

$0.06

August 31, 2019

September 13, 2019

$0.06

July 31, 2019

August 15, 2019

$0.06

June 30, 2019

July 15, 2019

$0.06

May 31, 2019

June 14, 2019

$0.06

April 30, 2019

May 15, 2019

$0.06

March 31, 2019

April 15, 2019

$0.06

February 28, 2019

March 15, 2019

$0.06

January 31, 2019

February 15, 2019

$0.06

December 31, 2018

January 15, 2019

$0.06

November 30, 2018

December 14, 2018

$0.06

October 31, 2018

November 15, 2018

$0.06

September 30, 2018

October 15, 2018

$0.06

August 31, 2018

September 14, 2018

$0.06

July 31, 2018

August 15, 2018

$0.06

June 30, 2018

July 13, 2018

$0.06

May 31, 2018

June 15, 2018

$0.06

April 30, 2018

May 15, 2018

$0.06

March 31, 2018

April 13, 2018

$0.06

February 28, 2018

March 15, 2018

$0.06

January 31, 2018

February 15, 2018

$0.06

December 31, 2017

January 15, 2018

$0.06

November 30, 2017

December 15, 2017

$0.06

October 31, 2017

November 15, 2017

$0.06

September 30, 2017

October 13, 2017

$0.06

August 31, 2017

September 15, 2017

$0.06

July 31, 2017

August 15, 2017

$0.06

June 30, 2017

July 14, 2017

$0.06

May 31, 2017

June 15, 2017

$0.06

April 30, 2017

May 15, 2017

$0.06

March 31, 2017

April 13, 2017

$0.06

February 28, 2017

March 15, 2017

$0.06

January 31, 2017

February 15, 2017

$0.06

December 31, 2016

January 13, 2017

$0.06

November 30, 2016

December 15, 2016

$0.06

October 31, 2016

November 15, 2016

$0.06

September 30, 2016

October 14, 2016

$0.06

August 31, 2016

September 15, 2016

$0.06

July 31, 2016

August 15, 2016

$0.06

June 30, 2016

July 15, 2016

$0.06

May 31, 2016

June 15, 2016

$0.06

April 30, 2016

May 13, 2016

$0.06

March 31, 2016

April 15, 2016

$0.06

February 29, 2016

March 15, 2016

$0.06

January 31, 2016

February 12, 2016

$0.06

December 31, 2015

January 15, 2016

$0.06

November 30, 2015

December 15, 2015

$0.06

October 31, 2015

November 13, 2015

$0.06

September 30, 2015

October 15, 2015

$0.06

August 31, 2015

September 15, 2015

$0.06

July 31, 2015

August 14, 2015

$0.06

June 30, 2015

July 15, 2015

$0.06

May 31, 2015

June 15, 2015

$0.06

April 30, 2015

May 15, 2015

$0.06

March 31, 2015

April 15, 2015

$0.06

February 28, 2015

March 13, 2015

$0.06

January 31, 2015

February 13, 2015

$0.06

December 31, 2014

January 15, 2015

$0.06

November 30, 2014

December 15, 2014

$0.06

October 31, 2014

November 14, 2014

$0.05

September 30, 2014

October 15, 2014

$0.05

August 31, 2014

September 15, 2014

$0.05

July 31, 2014

August 15, 2014

$0.05

June 30, 2014

July 15, 2014

$0.05

May 31, 2014

June 13, 2014

$0.05

April 30, 2014

May 15, 2014

$0.05

March 31, 2014

April 15, 2014

$0.05

February 28, 2014

March 14, 2014

$0.05

January 31, 2014

February 14, 2014

$0.05

December 31, 2013

January 15, 2013

$0.05

November 30, 2013

December 13, 2013

$0.05

October 31, 2013

November 15, 2013

$0.05

September 30, 2013

October 15, 2013

$0.05

August 31, 2013

September 13, 2013

$0.05

July 31, 2013

August 15, 2013

$0.05

June 30, 2013

July 15, 2013

$0.05

May 31, 2103

June 14, 2013

$0.05

April 30, 2013

May 15, 2013

$0.05

March 31, 2103

April 15, 2013

$0.05

February 28, 2013

March 15, 2013

$0.05

January 31, 2013

February 15, 2013

$0.05

December 31, 2012

January 15, 2013

$0.05

November 30, 2012

December 14, 2012

$0.05

October 31, 2012

November 15, 2012

$0.05

September 30, 2012

October 15, 2012

$0.05

August 31, 2012

September 14, 2012

$0.05

July 31, 2012

August 15, 2012

$0.05

June 30, 2012

July 13, 2012

$0.05

May 31, 2012

June 15, 2012

$0.05

April 30, 2012

May 15, 2012

$0.05

March 31, 2012

April 13, 2012

$0.05

February 29, 2012

March 15, 2012

$0.05

January 31, 2012

February 15, 2012

$0.05

December 31, 2011

January 13, 2012

$0.05

November 30, 2011

December 15, 2011

$0.05

October 31, 2011

November 15, 2011

$0.10

September 30, 2011

October 14, 2011

$0.10

August 31, 2011

September 15, 2011

$0.10

July 31, 2011

August 15, 2011

$0.10

June 30, 2011

July 15, 2011

$0.10

May 31, 2011

June 15, 2011

$0.10

April 30, 2011

May 13, 2011

$0.10

March 31, 2011

April 15, 2011

$0.10

February 28, 2011

March 15, 2011

$0.135

January 31, 2011

February 15, 2011

$0.135

December 31, 2010

January 14, 2011

$0.135

November 30, 2010

December 15, 2010

$0.135

October 31, 2010

November 15, 2010

$0.135

September 30, 2010

October 15, 2010

$0.135

August 31, 2010

September 15, 2010

$0.135

July 31, 2010

August 14, 2010

$0.135

June 30, 2010

July 15, 2010

$0.135

May 31, 2010

June 15, 2010

$0.135

April 30, 2010

May 15, 2010

$0.135

March 31, 2010

April 15, 2010

$0.135

February 28, 2010

March 13, 2010

$0.135

January 31, 2010

February 13, 2010

$0.135

December 31, 2009

January 15, 2010

$0.135

November 30, 2009

December 15, 2009

$0.135

October 31, 2009

November 13, 2009

$0.135

September 30, 2009

October 15, 2009

$0.135

August 31, 2009

September 15, 2009

$0.135

July 31, 2009

August 14, 2009

$0.135

June 30, 2009

July 15, 2009

$0.135

May 31, 2009

June 15, 2009

$0.135

April 30, 2009

May 15, 2009

$0.135

March 31, 2009

April 15, 2009

$0.135

February 28, 2009

March 13, 2009

$0.135

January 31, 2009

February 13, 2009

$0.135

December 31, 2008

January 15, 2009

$0.135

Historical Dividends (1996 to 2008)

Following is the monthly cash distribution summary for Superior Plus, for income tax purposes, from inception of Superior Plus on October 8, 1996 until December 31, 2008.

Monthly cash distribution summary

Debentures

Superior Plus currently doesn’t have any outstanding convertible debentures.

Analyst Coverage

Please note that we do not provide analysts reports on Superior Plus. However, as a convenience to you, please find below a list of analysts that report information on Superior Plus. Their reports can be obtained directly from them. Please note that we are not endorsing any reports, statements or opinions of any analyst, including those listed below, and we are not responsible for the content of any report, statement or opinion issued by an analyst.

The company's investor relations team can be contacted at: investor-relations@superiorplus.com

Company / Analyst

AltaCorp Capital
Nate Heywood

BMO Nesbitt Burns
John Gibson

CIBC World Markets
Robert Catellier

Cormark Securities
Brent Watson

Desjardins Capital Markets
Gary Ho

National Bank Financial
Patrick Kenny

Raymond James
Steve Hansen

RBC Capital Markets
Nelson Ng

Scotia Capital
Ben Isaacson

Stifel Canada
Daryl Young

TD Securities
Aaron MacNeil

Dividend Reinvestment Plan

Superior Plus has suspended the operation of its Dividend Reinvestment Plan and Optional Share Purchase Program (the “DRIP”) .