TORONTO, Sept. 8, 2015 /CNW/ - Callidus Capital Corporation (the "Company" or "Callidus") is pleased to announce that, in accordance with its previously announced dividend policy, the board of directors (the "Board") has declared a quarterly eligible dividend of $0.175 per common share ("Common Share") of the Company to be paid on October 20, 2015 to holders of Common Shares of record on September 30, 2015.
As previously announced, the Board has approved the implementation of a dividend reinvestment plan pursuant to which eligible shareholders may elect to automatically reinvest their cash dividends payable in respect of the Common Shares to acquire additional Common Shares. Precise terms of the dividend reinvestment plan will be announced once the plan is finalized.
For purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation, all dividends paid by Callidus on our common shares in the calendar year, are designated as "eligible dividends". Unless stated otherwise, all dividends paid by Callidus on our common shares will be designated as "eligible dividends" for the purposes of these rules.
About Callidus Capital Corporation
Established in 2003, Callidus Capital Corporation is a Canadian company that specializes in innovative and creative financing solutions for companies that are unable to obtain adequate financing from conventional lending institutions. Unlike conventional lending institutions who demand a long list of covenants and make credit decisions based on cash flow and projections, Callidus credit facilities have few, if any, covenants and are based on the value of the company's assets, its enterprise value and borrowing needs. Callidus employs a proprietary system of monitoring collateral and exercising control over the cash inflow and outflows of each borrower, enabling Callidus to very effectively manage any risk of loss.
SOURCE Callidus Capital Corporation
For further information: David Reese, President and Chief Operating Officer, Callidus Capital Corporation, Phone: 416-945-3016, E-mail: [email protected], www.calliduscapital.ca