EDMONTON, Sept. 16, 2014 /CNW/ - Carfinco Financial Group Inc. ("Carfinco" or the "Company") announced that in conjunction with the Arrangement Agreement entered into with Banco Santander, S.A. on September 15, 2014, the Company agreed to declare and pay a special dividend.
The amount of the special dividend, if any, will be dependent on a variety of factors and there is no assurance that the necessary approvals will be obtained; however, any such special dividend declared will not exceed a maximum of $0.10 per common share of the Company. The amount of any such special dividend will be determined prior to the effective date of the Arrangement.
About Carfinco Financial Group Inc.
Carfinco, through its Canadian and United States subsidiaries (collectively, "Carfinco"), focuses on providing indirect consumer vehicle loans to borrowers unable to obtain financing through traditional lending sources. A network of select independent and franchise dealerships offer Carfinco's payment plans to their customers who must, along with the vehicle, meet Carfinco's underwriting guidelines. The shares of Carfinco trade on The Toronto Stock Exchange under the symbol "CFN".
Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the amount of the special dividend and the business and anticipated financial performance of the Company. The amount of the special dividend, if any, will be dependent on a variety of factors and there is no assurance that the necessary approvals will be obtained. The amount of the special dividend will be determined prior to the effective date of the Arrangement. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.
SOURCE: Carfinco Financial Group Inc.
For further information: Mr. Tracy A. Graf, CEO & Director of Carfinco Financial Group Inc., Telephone: 1-888-486-4356, Facsimile: 1-888-486-7456, E-mail: firstname.lastname@example.org, Web site: www.carfinco.com; The Howard Group Inc.: Jeff Walker, Investor Relations, Telephone: 1-888-221-0915, E-mail: email@example.com, Web site: www.howardgroupinc.com