TORONTO, Nov. 4 /CNW/ - The Board of Directors of Home Capital Group Inc. (TSX: HCG) has approved an increase in the quarterly dividend to 16.0 cents per share on the outstanding Common Shares of the Company, which is equivalent to an annual dividend of 64.0 cents per share. The dividend is payable on December 1, 2009 to shareholders of record at the close of business on November 16, 2009.
Gerald M. Soloway, CEO of Home Capital Group Inc., stated, "This is the third increase to the quarterly dividend this year and the eleventh increase in the past five years, reflecting Home Capital's ongoing commitment to enhancing long-term value for all shareholders and our positive future outlook."
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 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 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.
SOURCE Home Capital Group Inc.
For further information: For further information: Gerald M. Soloway, CEO, or Nick Kyprianou, President, (416) 360-4663, www.homecapital.com