Urbanfund Corp. Shares Exciting Dividend Announcement
Urbanfund Corp. Declares Dividend for Shareholders
Urbanfund Corp. (TSX-V: UFC), a prominent real estate development and operating firm, has shared an exciting update with its investors. The company recently announced a dividend of $0.0125 per common share and $0.0125 for its Series A, first preferred shares, specific to the three-month period ending June 30 of this year. This translates to a noteworthy annual dividend of $0.05 per share, payable on July 15 to all shareholders recorded by June 30.
Understanding Eligible Dividends and Their Benefits
Urbanfund designates this dividend as eligible under the Income Tax Act (Canada) and similar provincial legislation. For Canadian residents, this classification means potential tax advantages, including an enhanced dividend tax credit that can be an attractive incentive for local investors. Such benefits can significantly impact the after-tax return from investments in Urbanfund.
Dividend Reinvestment Plans: A Smart Choice
The company has in place Dividend Reinvestment Plans (DRIPs) aimed at its common shareholders and Series A preferred shareholders. These plans allow eligible shareholders to reinvest their cash dividends back into additional shares at a 5% discount. This feature enhances the value of investing in Urbanfund, as shareholders can accumulate more equity over time rather than receive cash payouts.
Exploring the Discretion of Dividends
It’s important to note that the declaration and payment of dividends lie at the discretion of the board. Going forward, any future dividends will hinge on the company's financial performance, cash requirements, and other critical factors that the board finds relevant in assessing the company’s ongoing financial climate.
About Urbanfund Corp.
Urbanfund Corporation is based in Toronto and is actively engaged in real estate development, operating primarily on the TSX Venture Exchange under the ticker UFC. The company proudly operates as a reporting issuer in multiple provinces including Alberta, British Columbia, and Ontario.
Investment Focus and Strategy
Urbanfund’s core mission is to identify and invest strategically in both real estate and related projects that indicate potential for growth. Presently, the company’s assets are diversified across various locations including Toronto, Belleville, Kitchener, London, and Brampton in Ontario as well as Montreal, Quebec City, and Dartmouth in Nova Scotia. Their strategic positioning across these regions enables Urbanfund to tap into both emerging trends and established market sectors.
Frequently Asked Questions
What is the dividend amount declared by Urbanfund Corp?
The declared dividend amount by Urbanfund Corp. is $0.0125 per common share and Series A, first preferred share.
When will the dividend be payable?
The dividend is scheduled to be payable on July 15 of this year to shareholders recorded by June 30.
What are eligible dividends?
Eligible dividends are those designated as such under the Income Tax Act (Canada), which offer certain tax benefits to shareholders, primarily Canadian residents.
What advantages do DRIPs offer to shareholders?
Dividend Reinvestment Plans (DRIPs) allow shareholders to reinvest dividends in additional shares at a discounted rate, enhancing long-term growth potential.
Who should shareholders consult regarding DRIP participation?
Shareholders are encouraged to review the plan details and consult with their investment advisors to determine if participation aligns with their financial goals.
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