EDMONTON, April 11, 2012 /CNW/ - Carfinco Financial Group Inc. ("Carfinco" or the "Company") announces that a cash dividend of 3.5 cents per share has been declared for April 2012, an increase of 16.7% from March's cash dividend of 3.0 cents per share. The payable date is April 30, 2012, the record date is April 20, 2012, and the ex-distribution date is April 18, 2012.
"The dividend rate has been adjusted to reflect the continued improvement in the Company's financial results," said Tracy Graf, CEO of the Fund. "The fourth quarter of 2011 was the eleventh consecutive quarter of record adjusted pre-tax net earnings. Management continues to execute its objective of growing the finance receivables portfolio by 20% per annum while maintaining delinquencies at acceptable levels."
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.
For further information: