On November 16, 2017 the Board of Directors approved payment of a quarterly dividend on its outstanding shares of $0.02 per common share which will be paid on December 20, 2017 to shareholders of record on November 30, 2017.
As previously announced the Board of Directors has approved a change in dividend payment practice from annual to quarterly. The intention of the Corporation going forward is to distribute a $0.02 quarterly dividend, to reflect the higher level of recurring management fees. The declaration and payment of future dividends is subject to approval by the Corporation’s Board of Directors. There can be no assurance that the Corporation’s Board of Directors will declare future dividends.
John Robertson, President and CEO, said “We are pleased that our Company’s improved prospects for profitability have allowed us to increase our expected dividend by 33% to $0.08 annually, paid quarterly.”
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