Exchange Income Corporation Announces Dividend for September 2024
Exchange Income Corporation Declares Dividend for Shareholders
Exchange Income Corporation (TSX: EIF), a prominent and diversified company focusing on the aerospace and aviation and manufacturing sectors, recently revealed its dividend announcement for the month ended September 30, 2024. The Corporation has set the dividend at $0.22 per share, with payments scheduled for October 15, 2024. Investors holding shares at the record date, which falls on September 27, 2024, will be eligible for this payout.
Dividend Reinvestment Opportunities
Eligible shareholders have the option to reinvest their dividends under the Corporation's dividend reinvestment and share purchase plan. This allows shareholders to purchase additional shares rather than receiving cash payments, creating potential for further investment growth.
Understanding the Tax Implications
This dividend has been classified as an 'eligible' dividend according to the Income Tax Act (Canada). This classification means that individuals residing in Canada may qualify for enhanced tax credits, potentially reducing their income tax burden. Shareholders should consider these aspects when assessing the benefits of their investments in Exchange Income Corporation.
About Exchange Income Corporation
Exchange Income Corporation operates with a dual focus on aerospace and aviation, as well as manufacturing segments. The company’s strategic acquisition approach targets well-established businesses that enjoy strong leadership, consistent cash flow, and specific niches with growth potential. This method allows the Corporation to build on its existing successes while continuing to seek out profitable ventures.
Commitment to Shareholder Value
Exchange Income Corporation is dedicated to maximizing value for its shareholders through thoughtful investment and management strategies. Regular dividend payments reflect the Corporation's focus on stable financial performance. As the market evolves, the company adapts while maintaining its core mission of operational excellence and growth.
Continuous Growth and Strategic Acquisitions
With a disciplined acquisition strategy, the Corporation consistently evaluates opportunities that align with its overall vision. Exchange Income Corporation aims to enhance its portfolio by acquiring profitable entities that fit its operational framework while navigating potential market fluctuations.
Frequently Asked Questions
What is the declared dividend amount for September 2024?
The declared dividend amount for September 2024 is $0.22 per share.
When will the dividend be paid to shareholders?
Shareholders will receive the dividend payment on October 15, 2024, provided they hold shares as of the record date, September 27, 2024.
Can shareholders reinvest their dividends?
Yes, eligible shareholders can reinvest their dividends through the Corporation's dividend reinvestment and share purchase plan.
What tax implications are associated with this dividend?
This dividend is designated as an 'eligible' dividend under the Income Tax Act (Canada), potentially allowing Canadian residents to benefit from enhanced dividend tax credits.
What sectors does Exchange Income Corporation operate in?
Exchange Income Corporation operates primarily in the aerospace & aviation and manufacturing sectors, focusing on acquiring profitable companies within these fields.
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