TORONTO, Aug. 5 /CNW/ - The Board of Directors of Home Capital Group Inc.
(TSX: HCG) has approved an increase in the quarterly dividend to 13.0 cents
per share on the outstanding Common Shares of the Company, which is equivalent
to an annual dividend of 52.0 cents per share, payable on September 1, 2008 to
shareholders of record at the close of business on August 15, 2008.
Gerald M. Soloway, CEO of Home Capital Group Inc., stated, "This dividend
increase reflects Home Capital's continuing strong performance. Based on our
increased profitability and strengthening of regulatory capital ratios, we are
confident that the forward momentum achieved in the first half of 2008 will
continue through the balance of the year and beyond. This dividend increase
underscores the Company's commitment to provide long-term value to all our
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.
Home Capital Group Inc. is a holding company, publicly traded on the
Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home
Trust Company. Home Trust is a federally regulated trust company offering
deposit, mortgage lending, retail credit and payment card services. Licensed
to conduct business across Canada, Home Trust has offices in Ontario, Alberta,
British Columbia, Nova Scotia and Quebec.
For further information:
For further information: Gerald M. Soloway, CEO, or Nick Kyprianou,
President, (416) 360-4663, www.homecapital.com