Superior Plus Announces April 2010 Cash Dividend and Upcoming Events

TSX: SPB

CALGARY, April 8 /CNW/ -

    
    April 2010 Cash Dividend - $0.135 per share
    -------------------------------------------
    

Superior Plus Corp. ("Superior") today announced its cash dividend for the month of April, 2010 of $0.135 per share payable on May 14, 2010. The record date is April 30, 2010 and the ex-dividend date will be April 28, 2010. Superior's annualized cash dividend rate is currently $1.62 per share. This dividend is an eligible dividend for Canadian income tax purposes.

    
    Annual Meeting of Shareholders
    ------------------------------
    

Superior's Annual Meeting of Shareholders will be held in the Lecture Theatre of The Metropolitan Conference Centre, 333 - 4th Avenue SW, Calgary, Alberta on Wednesday, May 5, 2010 at 2:00 p.m. MST. A live audio webcast of the meeting, including a corporate presentation will be accessible from Superior's website at www.superiorplus.com under the webcasts section.

    
    Upcoming Release of 2010 First Quarter Results and Conference Call
    ------------------------------------------------------------------
    

The Corporation expects to release its 2010 first quarter results on Wednesday, May 5, 2010. A conference call and webcast for investors, analysts, brokers and media representatives to discuss the 2010 first quarter results is scheduled for 3:30 p.m. MST on Wednesday, May 5, 2010. To participate in the call, dial: 1-888-231-8191. A recording of the call will be available for replay until midnight, June 4, 2010. To access the recording, dial: 1-800-642-1687 and enter pass code: 67432510. Internet users can listen to the call live, or as an archived call, on Superior's website at www.superiorplus.com under the webcasts section.

    
    About the Corporation
    ---------------------
    

Superior consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates and related fixed-price energy services; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.

Superior's shares and convertible debentures trade on the TSX as follows:

    
    Trading
    Symbol      Security                     Issued and Outstanding
    -------------------------------------------------------------------------
    SPB         Common Shares                 104.9 million
    SPB.db.b    5.75% Debentures, Series 1   $174.9 million principal amount
    SPB.db.c    5.85% Debentures, Series 1    $75.0 million principal amount
    SPB.db.d    7.5% Debentures               $69.0 million principal amount
    SPB.db.e    5.75% Debentures             $172.5 million principal amount
    -------------------------------------------------------------------------
    

Forward Looking Information

Certain information included in this Press Release is forward-looking, within the meaning of applicable Canadian securities laws. Much of this information can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "anticipates", "estimates", "continues" or similar words. Forward-looking information in this Press Release includes but is not limited to, assumptions concerning the future payment of dividends. Superior believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Superior's actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These risks and uncertainties include but are not limited to the inability of Superior to meet the liquidity tests set forth in the Canada Business Corporations Act with respect to the payment of dividends and future changes to applicable tax laws and the other risks identified in the Corporation's 2009 Annual Information Form under the heading "Risk Factors", which is available on the SEDAR website (www.sedar.com). Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

For further information: about Superior, please visit our website at: www.superiorplus.com or contact: Wayne Bingham, Executive Vice-President and Chief Financial Officer, Tel: [phone], Fax: [phone], E-mail: [email protected] or Jay Bachman, Vice-President, Investor Relations and Planning, Tel: [phone], Fax: [phone], E-mail: [email protected], Toll Free: 1-866-490-PLUS (7587)