TORONTO, Feb. 8, 2017 /CNW/ - The Board of Directors of Home Capital Group Inc. ("Home Capital") (TSX: HCG) has approved the payment of a quarterly dividend of 26.0 cents per share on the outstanding Common Shares of the Company, which is equivalent to an annual dividend of $1.04 per share. The dividend is payable on March 1, 2017 to shareholders of record at the close of business on February 17, 2017.
The above-mentioned dividend on the Common Shares is designated as an "eligible" dividend for the purposes of the Income Tax Act (Canada) and any similar provincial legislation.
Canadian resident shareholders may enroll in Home Capital's dividend reinvestment plan (DRIP) and receive common shares of Home Capital instead of a cash dividend payment. Common shares issued under the DRIP for the above-mentioned dividend will be purchased on the secondary market at the Market Price as defined in the DRIP.
Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of insured residential first mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through its direct to consumer deposit brand, Oaken Financial. Home Trust also conducts business through its wholly owned subsidiary, Home Bank. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.
SOURCE Home Capital Group Inc.
For further information: Laura Lepore, Assistant Vice President, Investor Relations, 416-933-5652, [email protected]