EDMONTON, Oct. 9, 2012 /CNW/ - Carfinco Financial Group Inc. ("Carfinco" or the "Company") announces that a cash dividend of 4.0 cents per share has been declared for October 2012, an increase of 14.3% from September's cash dividend of 3.5 cents per share. The payable date is October 31, 2012, the record date is October 19, 2012, and the ex-distribution date is October 17, 2012.
"As management continues to execute its objective of 20% annual growth in the finance receivables portfolio, we have had the opportunity of enhancing shareholder value through a consistent dividend payment," said Tracy Graf, CEO of the Fund. "The dividend increase - the fourth since the beginning of 2011 - not only reflects the strength of our financial results, but the confidence we have in achieving our goals."
About Carfinco Financial Group Inc.
Carfinco focuses on providing 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 plan to their customers who must, along with the vehicle, meet Carfinco's underwriting guidelines. The shares of the Company 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.
For further information: