Distributions

2013

 
Month Dividends per Common Share Record Date Payment Date
December 0.04875 December 31, 2013 January 15, 2014
November 0.04875 November 29, 2013 December 16, 2013
October 0.04875 October 31, 2013 November 15, 2013
September 0.04875 September 30, 2013 October 15, 2013
August 0.04875 August 30, 2013 September 16, 2013
July 0.04875 July 31, 2013 August 15, 2013
June 0.04875 June 28, 2013 July 15, 2013
May 0.04875 May 31, 2013 June 17, 2013
April 0.04875 April 30, 2013 May 15, 2013
March 0.04875 March 29, 2013 April 15, 2013
February 0.04875 February 28, 2013 March 15, 2013
January 0.04875 January 31, 2013 February 15, 2013
December
0.04875
December 31, 2012
January 15, 2013

Canadian Disclosure

All dividends paid by the Corporation to Canadian residents on its common shares are designated as "eligible dividends" for purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.

United States Disclosure

Certain holders of New Flyer’s common stock have requested information regarding the status of New Flyer Industries Inc. (“NFI”) as a “qualified foreign corporation” for purposes of the rules in the U.S. Internal Revenue Code of 1986, as amended, relating to reduced rates of tax applicable to dividends received from such corporations.

Under current legislation, dividend income of NFI will generally be taxed to non-corporate U.S. Holders (as defined below) at the rates applicable to long-term capital gains, provided that NFI is a “qualified foreign corporation,” the Common Share is held for a minimum holding period, and other requirements are satisfied.

A qualified foreign corporation includes a non-U.S. corporation that is eligible for the benefits of an income tax treaty with the United States, if such treaty provides for an exchange of information program and the United States Treasury Department has determined that the treaty is satisfactory for purposes of the legislation. The Unites States Treasury has determined that the Convention between the United States of America in Canada with respect to Taxes on Income and on Capital (the “Canadian Treaty) meets these requirements, and it is expected that NFI will be eligible for the benefit of the Canadian Treaty. Therefore, we believe that NFI should be a qualified foreign corporation for these purposes.

A “U.S. Holder” means a beneficial owner of the stock that, for U.S. federal income tax purposes, is (1) an individual who is a citizen or resident of the United States, (2) a corporation (or other entity taxable as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States or of any political subdivision thereof; (3) an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or (4) a trust (i)(a) the administration over which a court within the United States can exercise primary supervision and (b) all of the substantial decisions of which one or more United States persons have the authority to control or (ii) that validly elects to be treated as a United States person for U.S. federal income tax purposes under applicable U.S. Treasury Regulations.

This discussion is not exhaustive of all possible U.S. federal income tax considerations applicable to an investment in NFI’s stock. In addition, this discussion does not address all of the tax considerations that may be relevant to certain types of investors subject to special treatment under U.S. federal income tax laws. This discussion is of a general nature only and is not intended to be legal or tax advice to any holder of the stock, and is not a substitute for careful tax planning and advice. Holders of the stock should consult their own tax advisors in determining the application to them of the U.S. federal income tax laws to their particular situations, as well as any tax consequences arising under any other U.S. federal, state, local, foreign or other tax laws from the purchase, ownership and disposition of the stock.

IRS Circular 230 Disclosure

TO ENSURE COMPLIANCE WITH U.S. INTERNAL REVENUE SERVICE CIRCULAR 230, HOLDERS OF NFI STOCK ARE HEREBY NOTIFIED THAT: (A) ANY DISCUSSION OF U.S. FEDERAL TAX ISSUES HEREIN IS NOT INTENDED OR WRITTEN TO BE USED OR RELIED UPON, AND CANNOT BE USED OR RELIED UPON BY SUCH HOLDERS, FOR THE PURPOSE OF AVOIDING PENALTIES THAT MAY BE IMPOSED ON SUCH HOLDERS UNDER THE U.S. INTERNAL REVENUE CODE; (B) SUCH DISCUSSION WAS WRITTEN IN CONNECTION WITH THE PROMOTION OR MARKETING (WITHING THE MEANING OF IRS CIRCULAR 230) OF THE STOCK OR OTHER MATTERS ADDRESSED HEREIN; AND (C) EACH HOLDER OF THE STOCK SHOULD SEEK ADVICE BASED ON ITS PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR.