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The Corporation’s dividend policy is to set a level of dividends which is considered sustainable in future years. All dividends on IAM common shares received by shareholders in 2006 and later are eligible dividends for Canadian income tax purposes (unless otherwise designated) and, accordingly, entitle an individual shareholder resident in Canada to a higher dividend gross up and dividend tax credit.
On November 29, 2018, the Board of Directors approved payment of quarterly dividend of $0.03 on December 21, 2018 to shareholders of record on December 11, 2018.
On August 2, 2018, the Board of Directors approved increasing the quarterly dividend from $0.02 per outstanding share to $0.03 per outstanding share.
On November 16, 2017 the Board of Directors approved payment of a quarterly dividend on outstanding shares of $0.02 per common share which was paid on December 20, 2017 to shareholders of record on November 30, 2017.
As previously announced the Board of Directors of the Corporation has approved a change in dividend payment practice from annual to quarterly. The intention of the Corporation going forward was to distribute a $0.02 quarterly dividend, to reflect the higher level of recurring management fees. The declaration and payment of future dividends are 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.”
The Board of Directors of the Corporation approved payment of a regular annual dividend on its outstanding shares of $0.06 per common share which was paid on September 7, 2017 to shareholders of record on August 17, 2017. Going forward the Board of Directors of the Corporation approved a change in dividend payment practice from annual to quarterly.
On August 5, 2016 the Board of Directors declared a regular dividend of $0.06 per common share, paid on September 8, 2016 to shareholders of record on August 18, 2016.
On August 6, 2015, the Board of Directors declared a regular dividend of $0.06 per common share, paid on September 9, 2015 to shareholders of record on August 17, 2015.
On August 7, 2014, the Board of Directors approved a 20% increase in the annual dividend, to $0.06 per common share, paid on September 5, 2014 to shareholders of record on August 18, 2014.
On September 25, 2013, IAM announced that the Board of Directors approved payment of the regular dividend on October 23, 2013 to shareholders of record on October 7, 2013.
On August 8, 2012, it was announced that the Board of Directors of the Corporation had approved payment of a regular annual dividend on its outstanding shares of $0.05 per common share, paid on September 6, 2012 to shareholders of record on August 20, 2012.
On August 5, 2011, Victor Koloshuk, Chairman and Chief Executive Officer of IAM said “This was the best quarter in your company’s history. As a result, the annual dividend was increased by 25%. We are pleased with the results, particularly in the face of uncertain and volatile capital markets.”
The Board of Directors of the Corporation approved payment of a regular dividend of $0.05 per common share, paid on September 16, 2011 to shareholders of record on September 6, 2011.
On September 28, 2010, IAM announced that its Board of Directors had approved the reinstatement of a regular cash dividend on the Corporation’s outstanding common shares. The amount of the regular dividend was initially fixed at $0.04 per common share to be payable on an annual basis. In that regard, the Board of Directors declared a dividend on the Corporation’s outstanding common shares of $0.04 per share, paid on October 22, 2010 to shareholders of record on October 8, 2010.
In May 2009, the Corporation suspended the payment of a dividend which would otherwise have been paid in June 2009. At that time, IAM considered that the Corporation’s earnings outlook was constrained given the decline in assets under management (AUM) in Retail Alternative Investments and the major upheaval in all markets in late 2008 resulting from the collapse of many major banks and insurers. In addition, IAM also considered that the economic uncertainties at that time might have presented attractive acquisition and merger opportunities that might require cash investment by the Corporation. At the time the Corporation had cash readily available for acquisitions and no debt.
In December 2007, the annual dividend rate was increased from $0.07 per common share to $0.08 per common share.
In June 2006, the annual dividend rate was increased from $0.05 per common share to $0.07 per common share.
In May 2005, IAM determined that the quality and stability of our earnings were sufficient to start paying dividends. The rate of the annual dividend was initially set at $0.05 per common share, payable semi-annually. The first dividend of $0.025 was paid January 30, 2005.