EDMONTON, Dec. 9, 2013 /CNW/ - Carfinco Financial Group Inc. ("Carfinco" or the "Company") announces that a cash dividend of 4.0 cents per share has been declared for December 2013. The payable date is December 31, 2013, the record date is December 20, 2013 and the ex-distribution date is December 18, 2013.
"For the past number of years, the Company has provided an additional special distribution to shareholders in December", stated Mr. Tracy Graf, CEO of Carfinco. "This year the Board of Directors felt it was beneficial to shareholders to retain capital to expand Carfinco's geographical presence, with the acquisition of Persian Acceptance Corp. based in Wakefield, Massachusetts and the potential acquisitions of Western Funding Inc. ("WFI") and Globaltrack GPS LLC ("GPS"), both based in Las Vegas, Nevada. Carfinco should know if it is the successful bidder in acquiring WFI and GPS later in December."
About Carfinco Financial Group Inc.
Carfinco, through its Canadian and United States subsidiaries (the "Subsidiaries"), 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 the Subsidiaries payment plans to their customers who must, along with the vehicle, meet the Subsidiaries 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 business and anticipated financial performance of the Company. 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.
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