WINNIPEG, Dec. 12, 2016 /CNW/ - Exchange Income Corporation (TSX: EIF) (the "Corporation"), a diversified, acquisition-oriented company focused on opportunities in aviation, aerospace and manufacturing sectors today announced that S&P Dow Jones Canadian Index Services has added the Corporation to the S&P/TSX Composite Index as part of its quarterly review. The addition will take effect after the close of trading on Friday, December 16, 2016.
"Becoming a member of the S&P/TSX Composite Index represents an important milestone and serves to validate our business model and the progress we have made over the past dozen years in making 15 disciplined acquisitions, increasing our dividend distributions 12 times, and becoming a more diversified company able to generate steady profitable growth regardless of economic conditions," said Mike Pyle, CEO of Exchange Income Corporation. "We expect that getting added to the Index will result in increased exposure to a broader range of investors in Canada and abroad as well as higher liquidity."
The S&P/TSX Composite Index measures the combined performance of constituents in the index that meet specific market capitalization and liquidity criteria. EIC was one of three TSX-listed companies added to the S&P/TSX Composite Index. After the adjustments made on December 9, 2016, the Index will consist of 250 companies.
About Exchange Income Corporation
Exchange Income Corporation is a diversified acquisition-oriented company, focused in two sectors: aerospace & aviation services and equipment, and manufacturing. The Corporation uses a disciplined acquisition strategy to identify already profitable, well-established companies that have strong management teams, generate steady cash flow and operate in niche markets.
The Corporation currently operates two segments: Aerospace & Aviation and Manufacturing. The Aerospace & Aviation segment consists of the operations by Perimeter Aviation, Keewatin Air, Calm Air International, Bearskin Lake Air Service, Custom Helicopters, Regional One and Provincial Aerospace. The Manufacturing segment consists of the operations by Jasper Tank, Overlanders Manufacturing, Water Blast Manufacturing, Stainless Fabrication, WesTower Communications and Ben Machine Products. For more information on the Corporation, please visit www.ExchangeIncomeCorp.ca. Additional information relating to the Corporation, including all public filings, is available on SEDAR (www.sedar.com).
Caution concerning forward-looking statements
The statements contained in this news release that are forward-looking are based on current expectations and are subject to a number of uncertainties and risks, and actual results may differ materially. These uncertainties and risks include, but are not limited to, the dependence of Exchange Income Corporation on the operations and assets currently owned by it, the degree to which its subsidiaries are leveraged, the fact that cash distributions are not guaranteed and will fluctuate with the Corporation's financial performance, dilution, restrictions on potential future growth, the risk of shareholder liability, competitive pressures (including price competition), changes in market activity, the cyclicality of the industries, seasonality of the businesses, poor weather conditions, and foreign currency fluctuations, legal proceedings, commodity prices and raw material exposure, dependence on key personnel, and environmental, health and safety and other regulatory requirements. Further information about these and other risks and uncertainties can be found in the disclosure documents filed by Exchange Income Corporation with the securities regulatory authorities, available at www.sedar.com.
SOURCE Exchange Income Corporation
For further information: Mike Pyle, Chief Executive Officer, Exchange Income Corporation, (204) 982-1850, MPyle@eig.ca; Joe Racanelli, Investor Relations, NATIONAL Equicom, (416) 586-1943, JRacanelli@national.ca