CALGARY, June 15, 2015 /CNW/ - Cervus Equipment Corp. ("Cervus") (TSX: CVL) announced that the Board of Directors of Cervus has approved a cash dividend to Cervus shareholders of $0.2125 per share for the second quarter of 2015. Payment will be made on or about July 15, 2015 to shareholders of record as of the close of business on June 30, 2015.
Due to the potential impact of the previously announced agreement with the Canada Revenue Agency ("CRA") (refer to the press release dated May 4, 2015) on the Company's future cash flows, the board of directors has decided to maintain the dividend for the current quarter, rather than increase it, as has been the practice for the previous 13 quarters.
Investors are cautioned that quarterly dividends are always subject to approval from the board of directors of Cervus, and may be increased, decreased or suspended by the board at anytime.
About Cervus Equipment Corporation
Cervus acquires and operates authorized agricultural, construction, materials handling and transportation equipment dealerships. The Company has interests in 75 dealerships in Canada, New Zealand, and Australia, employing more than 1,700 people. The primary equipment brands represented by Cervus include John Deere agricultural equipment; Bobcat and JCB construction equipment; Clark, Sellick and Doosan material handling equipment; and Peterbilt transportation equipment. The common shares of Cervus are listed on the Toronto Stock Exchange and trade under the symbol "CVL".
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Cervus Equipment Corporation
For further information: Investor Inquiries: Graham Drake - President & CEO, (403) 567-2095, email@example.com; Randy Muth - Chief Financial Officer, (403) 567-2097, firstname.lastname@example.org