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TORONTO, June 22, 2021 (GLOBE NEWSWIRE) – Urbanfund Corp. (TSX-V: UFC) (“Urbanfund” or the “Company”) (TSX-V: UFC) is pleased to announce that the Board of Directors of the Company has declared a 2-cent increase in its dividend payout annualized to $ 0.05 per common share and first preferred share of Series A, which represents an increase of 67% over the previous year. This will increase Urbanfund’s quarterly dividend payout to $ 0.0125 per common share and Series A first preferred share. The quarterly distribution of dividends declared by the Board of Directors of the Company for the three-month period ended June 30, 2021 is payable on July 15, 2021 to shareholders of record on June 30, 2021.
This dividend is designated by the Company as an eligible dividend within the meaning of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.
The Company has dividend reinvestment plans for the holders of its Common Shares and Series A First Preferred Shares (collectively, the “DRIPs”). DRIPs offer eligible shareholders the option of reinvesting their cash dividends, on each dividend payment date, in additional ordinary shares of the Company at a 5% discount from the volume weighted average price of ordinary shares. for the ten days preceding the date of payment of the dividend. Shareholders are encouraged to review the text of the DRIPs, which are available at www.sedar.com, and to consult their investment advisers if they wish to participate. In addition to this, you will need to know more about it.
The declaration and payment of dividends is at the discretion of the Board of Directors of the Company and any future declaration of dividends will depend on the Company’s financial performance, cash flow requirements, future prospects and other factors deemed relevant by the Company. board of directors of the Company.
In addition to this, you will need to know more about it.
Mitchell Cohen, CEO and President of Urbanfund, said: “We are very pleased to announce a further increase in Urbanfund distributions. This increase reflects not only the constant growth that our company has been able to achieve, but also the confidence in our operations to continue to increase our operating funds through efficient management of our real estate portfolio and the disposal of our participations in other real estate projects. “
Urbanfund is a Toronto-based real estate development and operations company listed on the TSX Venture Exchange (“TSX-V”) under the symbol UFC. The Company is a reporting issuer in Alberta, British Columbia and Ontario.
The Company’s objective is to identify, assess and invest in real estate or real estate-related projects. The Company’s assets are located in Toronto, Belleville, Kitchener, London and Brampton in Ontario as well as in Montreal and Quebec, Quebec and Dartmouth, Nova Scotia.
This press release contains certain forward-looking statements, including statements regarding the Company’s dividend policy and the payment of dividends, which constitute forward-looking statements. Whenever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, ” believe ”,“ estimate ”,“ potential ”or negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect the current beliefs of management and are based on information currently available to management as of the date hereof.
Forward-looking statements involve important risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be carefully considered and readers should not place undue reliance on forward-looking statements.
Although the forward-looking statements contained in this press release are based on what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Many factors could cause the actual results, performance or achievements of the Company to differ materially from future results, performance or achievements that could be expressed or implied by such forward-looking statements, including: general economic conditions and market segments, the impact of the COVID-19 pandemic, interest rates, costs beyond the Company’s control such as property taxes and utilities, the ability of tenants to meet their contractual obligations rent and any unscheduled repair, maintenance or replacement of the Company’s assets.
A more detailed assessment of the risks that could cause actual results to differ materially from current expectations is contained in the “Risks and Uncertainties” section of the Company’s most recent MD&A dated May 27, 2021.
For more information, please contact:
CEO and President
416-703-1877 ext 2025
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.