EDMONTON, Jan. 14, 2015 /CNW/ - Imperial Equities Inc. ("Imperial") today has announced it has temporarily suspended the payments of quarterly dividends until further notice. The suspension of dividend payments include any quarterly dividends payable beyond Q3, 2014.
"The price of the lifeblood of the Alberta economy has been in freefall for the past several months and it is likely to continue falling. Oil as a commodity, has for many years, been the economic driver of the province. Any downward pressure placed on the price of oil almost always will have a negative impact on the economy. Although other economic sectors may remain strong it is prudent to take an extra cautious approach in the stewardship of our company. Management will continue monitoring the economic outlook and will likely reinstate dividend payments at some point in the future" said Sine Chadi, President and CEO of Imperial Equities.
About Imperial Equities Inc.:
Imperial Equities Inc. is based in Edmonton, Alberta. A diversified company anchored by commercial and industrial real estate properties in its targeted Edmonton and Alberta markets. Imperial also distributes pharmaceutical products to the institutional and retail customers through its wholly owned subsidiary, Imperial Distributors Canada Inc. Additional information is available at: www.imperialequities.com
Imperial's common shares are listed on the TSX Venture Exchange under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Imperial Equities Inc.
For further information: Editorial Contact: Sine Chadi, CEO, Imperial Equities Inc., Phone: 780 424-7227, Email: [email protected]