WINNIPEG, Dec. 5, 2014 /CNW/ - Temple Hotels Inc. ("Temple") (TSX: TPH) announced today that it has declared a dividend in the amount of $0.045 per share for the month ended December 31, 2014. Payment will be made on January 15, 2015 to the shareholders of record at the close of business on December 31, 2014.
The record and payment dates noted above reflect a change in Temple's policy for the December dividend. In previous years the December dividend policy provided for the payment to occur on December 31 to the holders of record on December 15. This was inconsistent with all other months where the policy is to pay dividends on the 15th day of the month to the holders of record on the last day of the previous month. With the change in the December dividend policy, the policy is now the same for every month.
Eligible shareholders have the opportunity to reinvest their dividends in accordance with Temple's Dividend Reinvestment and Share Purchase Plan. Additional details can be found in the investor information section of Temple's website, www.templehotels.ca/drip.asp.
The dividend is designated as an "eligible" dividend under the Income Tax Act (Canada) and any corresponding provincial legislation. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits which reduce income tax otherwise payable.
Temple is a real estate investment company listed on the Toronto Stock Exchange under the symbols TPH (common shares), TPH.DB.C, TPH.DB.D, TPH.DB.E and TPH.DB.F (convertible debentures). The objective of Temple is to provide shareholders with stable cash dividends from investment in a diversified portfolio of hotel properties and related assets. For further information on Temple, please visit our website at www.templehotels.ca.
The Toronto Stock Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE: Temple Hotels Inc.
For further information: Arni Thorsteinson, Chief Executive Officer, or Gino Romagnoli, Executive Vice President, Tel: (204) 475-9090, Fax: (204) 452-5505, Email: [email protected]