TORONTO, Nov. 6, 2014 /CNW/ - The Board of Directors of Home Capital Group Inc. (TSX: HCG) has approved the payment of a quarterly dividend of 20.0 cents per share on the outstanding Common Shares of the Company. This represents a 2.0 cent per share increase in its quarterly dividend and is equivalent to an annual dividend of $0.80 per share. The dividend increase reflects the continuing success of Home Capital's operating subsidiaries, Home Trust Company and PSiGate. The dividend is payable on December 1, 2014 to shareholders of record at the close of business on November 14, 2014.
Gerald M. Soloway, CEO of Home Capital, stated, "This represents an increase of 43% in the quarterly dividend from one year ago and is the 20th increase in the last 10 years, reflecting Home Capital's consistent strong growth, increasing profitability and ongoing commitment to enhancing long-term shareholder value."
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.
About Home Capital and Home Trust
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. 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: Gerald M. Soloway, CEO, or Martin Reid, President, 416-360-4663, www.homecapital.com