EDMONTON, ALBERTA/CNW/ – Imperial Equities Inc. (TSX-V:IEI) today announced a decision of its Board of Directors to raise the Company’s dividend to $.08/share annually ($.02/quarterly) payable to shareholders beginning in Q2 2022.
The Company will announce the distribution date and record date for its Q2 2022 dividend at a later date.
“After careful consideration, our Board of Directors has approved an increase in dividends payable to our shareholders. This move comes as our Company is experiencing renewed economic stability, steady and improving Company performance and optimism about our long-term prospects,” said Sine Chadi, President and CEO of Imperial Equities. “It has always been our intent to increase the dividend in an upwards direction at the appropriate time, recognizing the importance of a consistent dividend as a key Company mandate and a shareholder priority. This is an incremental step and one which we still take with caution, though our goal is to continue to move the dividend upwards as Company growth and revenues warrant the change.”
The Company suspended its dividend after Q2 2020 due to uncertainty arising from the COVID pandemic. The dividend was reinstated in Q1 2021 at a rate of $.06/share annually and was paid at that rate for five consecutive quarters.
This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. Forward-looking statements in this news release include references to dividends and expectations that the Company’s operating revenues can cover an increasing dividend payment. Despite this projection, shareholders are cautioned that past issuance of a dividend by the Company and forward guidance on dividends does not guarantee that future dividends will be issued. All statements and information about the Company’s future dividend payments are forward-looking statements.
About Imperial Equities Inc.:
Based in Edmonton, Alberta, Imperial Equities Inc. is a publicly traded company anchored by industrial, agricultural, and commercial real estate properties in its targeted markets throughout Western Canada. Additional information is available at: www.imperialequities.com. Imperial’s common shares are listed on the TSX Venture Exchange under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For further information: Sine Chadi, CEO, Imperial Equities Inc.