WOODBRIDGE, ON, May 12, 2015 /CNW/ - Consolidated HCI Holdings Corporation (TSX:CXA.B) announced today the declaration of a special dividend of Cdn.$1.50 per Class B Share. Shareholders of record at the close of business on May 28, 2015 ("Distribution Record Date") will be entitled to receive payment of the dividend on June 18, 2015 (the "Payment Date"). This dividend will be an "eligible dividend" for Canadian income tax purposes. In accordance with the applicable rules of the Toronto Stock Exchange ("TSX"), the"due bill" trading procedures of the TSX will apply to the distribution. The shares of the Company will trade on a "due bill" basis from two trading days prior to the Distribution Record Date (ie., May 26, 2015) to the Payment Date, inclusively ("the due bill period"). Any trades that are executed on the TSX during the due bill period will be identified to ensure purchasers of the shares receive the entitlement to the distribution.
The shares will commence trading on an ex-dividend basis on June 19, 2015, as of which date purchases of shares will no longer have an attaching entitlement to the dividend. The due bill redemption date will be June 23, 2015.
Consolidated HCI Holdings Corporation is an Ontario-based real estate and development company that trades on The Toronto Stock Exchange under the symbol "CXA.B"
SOURCE Consolidated HCI Holdings Corporation
For further information: please contact Mr. Arnold J. Resnick, CFO, 905-851-7741 (106)