TORONTO, Sept. 19, 2011 /CNW/ - HOMEQ Corporation (TSX: HEQ) ("HOMEQ"),
announced that on August 5, 2011 its Board of Directors declared a
quarterly dividend of $0.07 per share on the outstanding common shares
of the company. The dividend is payable on October 14, 2011 to
shareholders of record at the close of business on September 29, 2011.
HOMEQ has an optional distribution reinvestment plan that permits
shareholders to use the dividend paid on their existing shares to
purchase additional shares directly from the company without paying
brokerage commissions or service charges. Participants in the plan
will receive additional shares equal in value to four percent of each
dividend that is reinvested. Complete plan details can be obtained at www.homeq.ca.
Forward Looking Statements
HOMEQ Corporation from time to time makes written and verbal
forward-looking statements about business objectives, operations,
performance, and financial condition, including the likelihood of
HOMEQ's success in developing and expanding its business. These may be
included in HOMEQ's and its predecessor's annual reports, regulatory
filings, reports to shareholders, press releases, presentations and
other communications. These forward-looking statements are based upon a
number of assumptions and estimates that are inherently subject to
significant uncertainties and contingencies, many of which are beyond
the control of HOMEQ. Actual results may differ materially from those
expressed or implied by such forward-looking statements. HOMEQ does not
undertake to update any forward-looking statement, whether written or
verbal, that may be made from time to time.
About HOMEQ Corporation
HOMEQ's wholly owned subsidiary HomEquity Bank is the only national
provider of reverse mortgages to homeowners aged 60 and over, Canada's
fastest growing demographic segment. HomEquity Bank originates and
administers Canada's largest portfolio of reverse mortgages under the
CHIP Home Income Plan brand. As of June 30, 2011, the mortgage
portfolio comprised approximately 8,500 reverse mortgages with an
accrued value of $1.1 billion, secured by residential properties across
Canada worth approximately $3.0 billion. HomEquity Bank has been the
main underwriter of reverse mortgages in Canada since its predecessor,
Canadian Home Income Plan, pioneered the concept in 1986.
HOMEQ's shares trade on the Toronto Stock Exchange under the symbol HEQ.
Additional information on HOMEQ, including annual and quarterly reports
can be viewed at www.homeq.ca.
SOURCE HOMEQ Corporation
For further information:
Steven K. Ranson, President and Chief Executive Officer, (416) 413-4663 or Gary Krikler, Senior Vice President and Chief Financial Officer, (416) 413-4679