Hammond Power Solutions Announces Dividend for Shareholders
Hammond Power Solutions Declares Quarterly Dividend
Hammond Power Solutions Inc. (TSX: HPS.A) has made an important announcement regarding dividends for its shareholders. The Board of Directors has declared a cash dividend of $0.275 per Class A Subordinate Voting Share and the same amount for each Class B Common Share. This dividend reflects the company's commitment to sharing its financial success with its investors.
Dividend Details and Payment Schedule
The divisional payment is set for September 27, 2024, with shareholders of record noted as of September 20, 2024. It is noteworthy that the ex-dividend date also falls on the 20th of September 2024, which is crucial information for potential investors looking to benefit from this dividend.
Tax Information for Canadian Shareholders
For Canadian resident shareholders, the entire amount of the dividend is designated as an “eligible dividend” under the Income Tax Act (Canada). This classification is important for tax purposes, so shareholders should consult their tax advisors for personalized advice regarding how this dividend may affect their tax situation.
Hammond Power Solutions and Its Role in Electrification
Operating in various regions, including Canada, the U.S., Mexico, and India, Hammond Power Solutions is a frontrunner in the manufacturing of dry-type transformers and power quality products. Their innovations are pivotal in improving electrical distribution networks. With products that cater to a wide range of applications, HPS is a trusted entity in the electrification sector, emphasizing quality and reliability.
Global Presence and Investment Potential
HPS not only focuses on manufacturing but also has a robust global reach, allowing it to serve customers around the world effectively. As a participant on the Toronto Stock Exchange, trading under the symbol HPS.A, the company presents a compelling opportunity for investors interested in the electrification industry.
Maintaining Commitment to Shareholders
Hammond Power Solutions remains dedicated to enhancing shareholder value through consistent dividend declarations. This latest announcement reflects the company’s stability and ongoing growth, reinforcing its position in the market. Shareholders and potential investors can take this news as a sign of HPS’s ongoing commitment to financial integrity and investment in its operational capabilities.
Frequently Asked Questions
What is the dividend amount declared by Hammond Power Solutions?
The declared dividend amount is $0.275 per Class A and Class B share.
When will the dividend be paid?
The dividend is scheduled to be paid on September 27, 2024.
What is the ex-dividend date?
The ex-dividend date is September 20, 2024.
What classification does the dividend hold for tax purposes?
The dividend is classified as an “eligible dividend” for Canadian tax considerations.
What is Hammond Power Solutions’ mission?
Hammond Power Solutions aims to enable electrification through their range of power quality products and dry-type transformers.
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