BOUCHERVILLE, QC, June 17, 2013 /CNW Telbec/ - The Board of Directors of
Colabor Group Inc. (TSX: GCL) ("Colabor" or the "Corporation") has decided to amend its current dividend policy in order to declare
the voted dividends concurrently with the release of its annual or
quarterly financial results. This will, as well, be generally
consistent with the practices of other public companies.
Colabor currently plans to announce its financial results for the period
ended June 15, 2013 on or around July 17, 2013 and would declare at the
same time the applicable dividend.
Following the conversion of Colabor to a corporate structure from an
income fund structure in 2009, Colabor adopted a dividend policy
equivalent, on an annual basis, to the distribution policy of the then
Colabor Income Fund. Dividends were declared and paid quarterly to
shareholders of record on the last business day of each calendar
quarter, which did not coincide with the end of Colabor's quarterly
periods which may vary from year to year given that its fiscal year is
comprised of thirteen periods of 4 weeks, the first three quarters
being comprised of 3 periods and the last one of 4 periods.
"In addition to being more consistent with the practices of other public
companies, we believe that this decision of our board will allow
Colabor to optimise the return of capital to shareholders", commented
Claude Gariépy, President and Chief Executive Officer of Colabor.
Colabor is a wholesaler and distributor of food and non-food products
serving the food-service (cafeterias, restaurants, hotels, restaurant
chains, etc.) and retail (grocery stores, convenience stores, etc.)
markets, in Quebec, Ontario and the Atlantic provinces.
This news release may contain forward-looking statements reflecting the
opinions or current expectations of Colabor Group Inc. concerning its
performance and business operations and future events. These statements
are subject to risks, uncertainties and assumptions. Actual results or
events may differ.
SOURCE: Colabor Group Inc.
For further information:
Colabor Group Inc.
Jean-François Neault, CPA, CMA, CA
Vice President and Chief Financial Officer
Tel.: (450) 449-0026, ext. 308
Fax: (450) 449-6180
Maison Brison Inc.
Martin Goulet, CFA
Senior Vice President, Investor Relations
Tel.: (514) 731-0000, ext. 229
Fax: (514) 731-4525