FirstService Corporation Announces Attractive Dividend for Shareholders

FirstService Declares Cash Dividend on Common Shares

FirstService Corporation (TSX: FSV; NASDAQ: FSV) has recently informed its valued shareholders that the Board of Directors has authorized a quarterly cash dividend of US$0.25 per common share. This decision underlines the company’s commitment to delivering consistent returns to its investors. The dividend is set to be paid out on January 7, 2025, to all common share shareholders on record as of the close of business on December 31, 2024.

Overview of FirstService Corporation

FirstService Corporation stands out in the North American property services sector. It operates two premier service platforms that cater to a diverse clientele. The first, FirstService Residential, is known for being North America's leading manager of residential communities, ensuring the highest standards of living for its clients.

The second platform, FirstService Brands, focuses on delivering essential property services through an extensive network of individually branded franchises and company-owned operations. This combination allows FirstService to offer unmatched service quality across the sector.

Financial Highlights

Generating impressive revenues exceeding $4.9 billion annually, FirstService Corporation employs around 30,000 professionals throughout North America. This robust financial performance is supported by significant insider ownership and a proficient management team, contributing to a long-standing history of creating shareholder value and delivering superior returns.

Commitment to Shareholders

FirstService Corporation's common shares are actively traded on both the NASDAQ and TSX under the ticker symbol “FSV”. Moreover, the company is a respected member of the S&P/TSX 60 index, highlighting its stature in the market. Investors can take comfort in the company’s dedication to enhancing shareholder value through well-considered dividend distributions.

Recent Developments

The dividend declaration is part of FirstService's strategy to ensure a reliable income stream for its shareholders while fostering long-term business growth. This approach is evident as the company continues to explore avenues for expanding their services and market reach.

Future Growth Potential

FirstService is dedicated to successfully implementing its growth strategy, which includes identifying potential acquisition candidates that align with their operational goals. The company remains focused on efficiently integrating newly acquired businesses into its existing framework, ensuring that service quality remains uncompromised.

Factors Impacting Business

While FirstService Corporation is confident in its operational strategies, it acknowledges several factors that may influence its future performance. Economic conditions, regulatory changes, and the overall business environment are crucial elements that the company monitors closely to navigate challenges effectively.

Contact Information for Inquiries

For more details on corporate updates or financial queries, stakeholders can reach out to:

D. Scott Patterson
Chief Executive Officer
(416) 960-9566

Jeremy Rakusin
Chief Financial Officer
(416) 960-9566

Frequently Asked Questions

What is the amount of the declared dividend by FirstService Corporation?

The declared dividend is US$0.25 per common share.

When will the dividend be paid to shareholders?

The dividend will be paid on January 7, 2025, to shareholders of record as of December 31, 2024.

What are the main operations of FirstService Corporation?

FirstService operates primarily through its two platforms: FirstService Residential, focused on residential community management, and FirstService Brands, which provides essential property services through franchises.

How does FirstService ensure shareholder value?

The company maintains significant insider ownership and follows a consistent strategy to enhance operational effectiveness, driving profits and ensuring regular dividend payments.

Who can shareholders contact for further information?

Shareholders can contact D. Scott Patterson, CEO, or Jeremy Rakusin, CFO, at (416) 960-9566 for inquiries.

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