CALGARY, Aug. 8, 2017 /CNW/ - Crown Capital Partners Inc. ("Crown" or the "Corporation") (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced that its Board of Directors has declared a dividend of $0.13 per common share, payable on September 1, 2017 to all shareholders of record as of the close of business on August 18, 2017. This dividend represents an increase of more than 8% over Crown's previous quarterly dividend of $0.12 per share.
"As we continue to put capital to work and expand the portfolio, we are building a strong base of interest revenue and this has enabled us to increase the quarterly dividend to 13 cents per share, the second increase since the dividend was initiated in January 2016," said Chris Johnson, President and CEO of Crown. "We plan to grow the dividend further as we continue to execute on our strategic plan."
This dividend is designated by the Company to be an "eligible dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial or territorial legislation pertaining to eligible dividends. Shareholders with questions regarding the tax treatment of dividends should consult with their own tax advisors.
Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.
This news release contains certain "forward looking statements" and certain "forward looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management's beliefs, expectations or intentions regarding Crown's dividend and future increases to the dividend. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Crown's periodic filings with Canadian securities regulators. See Crown's Annual Information Form for a detailed discussion of the risk factors affecting Crown. In addition, Crown's dividend policy will be reviewed from time to time in the context of the Corporation's earnings, financial requirements for its operations, and other relevant factors and the declaration of a dividend will always be at the discretion of the board of directors of the Corporation. Crown undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE Crown Capital Partners Inc.
For further information: Craig Armitage, Investor Relations, email@example.com, (416) 347-8954