Urbanfund Corp. Announces Exciting New Dividend Plan
Urbanfund Corp. Announces New Dividend
In an exciting development for investors, the Board of Directors for Urbanfund Corp. (TSX-V: UFC) has officially declared a dividend of $0.0125 per common share and $0.0125 per Series A, first preferred share. This announcement affirms Urbanfund’s ongoing commitment to rewarding shareholders while demonstrating the Company's strong financial positioning.
Details of the Dividend Declaration
The specified dividend pertains to the three-month period concluding September 30, and it reflects an annualized rate of $0.05 per share. This dividend is scheduled to be paid on October 15 to shareholders on record as of September 30. Urbanfund positions this as an eligible dividend under the Income Tax Act in Canada, providing specific tax advantages for its Canadian shareholders, notably an improved dividend tax credit.
Dividend Reinvestment Plans (DRIPs)
For those interested in extending their investment in the Company, Urbanfund offers Dividend Reinvestment Plans (DRIPs) that allow eligible shareholders to reinvest their cash dividends in additional common shares at a 5% discount based on the average trading price from the preceding ten days before the dividend payment date. We encourage shareholders to familiarize themselves with the details regarding these plans available on the Company’s site.
Understanding the Company’s Financial Approach
The board of directors exercises its authority to declare and manage dividends based on a thorough analysis of Urbanfund's financial health, cash flow requirements, and future business prospects. The commitment to dividends reflects the Company’s focus on sustainability and long-term growth strategies, ensuring that financial planning aligns with broader market conditions.
Overview of Urbanfund Corp.
Established in Toronto, Urbanfund Corp. specializes in real estate development and operations, trading under the symbol UFC on the TSX Venture Exchange. The Company engages in identifying and investing in real estate and related projects across diverse locations in Ontario and Quebec, including cities like Toronto, London, and Montreal.
Investment and Project Strategies
Urbanfund Corporation aims to strategically position itself within the real estate market by evaluating various investment opportunities that can yield high returns. Through careful scrutiny of potential projects, the Company seeks to capitalize on market trends while maintaining a strong portfolio that enhances value for shareholders.
Evaluating Risks and Forward-Looking Statements
Every business decision comes with risks and uncertainties. Urbanfund acknowledges these factors in its operations, emphasizing its commitment to transparency regarding the potential for variance in actual performance compared to estimates. By thoroughly assessing economic conditions, tenant obligations, and operational overheads, Urbanfund ensures it remains vigilant against various market fluctuations.
Contact Information
For any inquiries about the dividend or Urbanfund’s operations, Mitchell Cohen, the Chief Executive Officer and President, can be reached directly at 416-703-1877 ext. 2025.
Frequently Asked Questions
What is the declared dividend amount for Urbanfund Corp.?
The declared dividend is $0.0125 per common share and $0.0125 per Series A preferred share.
What is the significance of eligible dividends in Canada?
Eligible dividends allow shareholders to benefit from enhanced tax credits under the Income Tax Act, making them a favorable income option.
How can shareholders participate in the Dividend Reinvestment Plans?
Shareholders can opt into DRIPs that allow them to reinvest dividends at a 5% discount to the average trading price of shares prior to the payment date.
Where does Urbanfund operate?
Urbanfund operates primarily in Ontario and Quebec, focusing on various key cities including Toronto, Montreal, and Brampton.
Who can I contact for more information about Urbanfund?
For further details, you can contact Mitchell Cohen, the CEO of Urbanfund Corp.
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