TORONTO, Sept. 19, 2022 (GLOBE NEWSWIRE) — Mitchell Cohen, Chief Executive Officer and President of Urbanfund Corp. (TSX-V: UFC) (“Urbanfund” or the “Company”), declares that the Board of Directors of the Company has declared a dividend of $0.0125 per widespread share and $0.0125 per Series A, first most well-liked share for the three-month interval ended September 30, 2022, representing $0.05 per share on an annualized foundation. The dividend is payable on October 17, 2022 to the shareholders of document on September 30, 2022.
This dividend is designated by the Company as an eligible dividend as outlined by the Income Tax Act (Canada) and any related provincial or territorial laws. An enhanced dividend tax credit score applies to eligible dividends paid to Canadian residents.
The Company has Dividend Reinvestment Plans for holders of its widespread shares and Series A, first most well-liked shares (collectively, the “DRIPs”). The DRIPs present eligible shareholders with the chance to reinvest their money dividends, on every dividend fee date, in further widespread shares of the Company at a 5% low cost to the volume-weighted common buying and selling worth of the widespread shares for the ten-day interval previous the dividend fee date. Shareholders are inspired to overview the textual content of the DRIPs, which can be found at www.sedar.com, and seek the advice of with their funding advisors ought to they need to take part.
The declaration and fee of dividends is on the discretion of the board of administrators of the Company and any future declaration of dividends will rely upon the Company’s monetary outcomes, money necessities, future prospects and different elements deemed related by the board of administrators of the Company.
ABOUT URBANFUND
Urbanfund is a Toronto-based actual property growth and working firm listed on the TSX Venture Exchange (“TSX-V”) underneath the image UFC. The Company is a reporting issuer in Alberta, British Columbia and Ontario.
The Company’s focus is to determine, consider and put money into actual property or actual property associated initiatives. The Company’s belongings are positioned in Toronto, Belleville, Kitchener, London, and Brampton Ontario and in Montreal and Quebec City, Quebec and Dartmouth, Nova Scotia.
FORWARD-LOOKING INFORMATION
This press launch incorporates sure forward-looking statements, together with statements in regards to the Company’s dividend coverage and dividend fee, which represent forward-looking statements. Wherever attainable, phrases corresponding to “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the damaging or different variations of those phrases, or related phrases or phrases, have been used to determine these forward-looking statements. These statements replicate administration’s present beliefs and are primarily based on data at the moment accessible to administration as on the date hereof.
Forward-looking statements contain vital threat, uncertainties and assumptions. Many elements may trigger precise outcomes, efficiency or achievements to vary materially from the outcomes mentioned or implied within the forward-looking statements. These elements ought to be thought of rigorously and readers mustn’t place undue reliance on the forward-looking statements.
Although the forward-looking statements contained on this press launch are primarily based upon what administration believes to be cheap assumptions, the Company can not guarantee readers that precise outcomes shall be in line with these forward-looking statements. These forward-looking statements are made as of the date of this press launch, and the Company assumes no obligation to replace or revise them to replicate new occasions or circumstances, besides as required by regulation. Many elements may trigger the precise outcomes, efficiency or achievements of the Company to be materially totally different from any future outcomes, efficiency or achievements that could be expressed or implied by such forward-looking statements, together with: basic financial and market section circumstances, rates of interest, prices exterior of the Company’s management corresponding to actual property taxes and utilities, the flexibility of tenants to fulfill their contractual hire obligations and any unexpected restore, upkeep or substitute of the Company’s belongings.
More detailed evaluation of the dangers that might trigger precise outcomes to materially differ from present expectations is contained within the “Risks and Uncertainties” part of the Company’s most up-to-date Management’s Discussion and Analysis dated August 25, 2022.
For additional data, please contact:
Mitchell Cohen
Chief Executive Officer and President
Urbanfund Corp.
416-703-1877 ext. 2025
Neither TSX Venture Exchange nor its Regulation Services Provider (as that time period is outlined within the insurance policies of the TSX Venture Exchange) accepts accountability for the adequacy or accuracy of this launch.
