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Reinstituted Quarterly Dividend Pays $0.02 per Share
EDMONTON, Oct. 15, 2012 /CNW/ - The Brick Ltd. (TSX: BRK) (the "Brick Group" or the "Brick") today confirmed the payment of the dividend of $0.02 per common share declared by the Board of Directors of the Brick on August 13, 2012 to shareholders of record at the close of business on September 28, 2012. A total of 121,651,788 shareholders received an aggregate of $2,433,035.76 by way of the dividend.
This dividend is the first dividend paid as part of the reinstituted program to declare quarterly dividends in the amount of $0.02 per common share, or $0.08 annually that was announced on August 14, 2012. The payment of each dividend will remain subject to the declaration of that dividend by the Board of Directors. The actual amount of each quarterly dividend, as well as each declaration date, record date and payment date is subject to the discretion of the Board of Directors. The Brick Group's dividend policy is also expected to be reviewed on an annual basis. The Brick Group's quarterly dividend is designated as an "eligible dividend" for Canadian tax purposes.
About the Brick Group
The Brick Group, together with its subsidiaries, is one of Canada's largest volume retailers of household furniture, mattresses, appliances and home electronics, operating under four banners: The Brick, United Furniture Warehouse, The Brick Mattress Store, and Urban Brick. In addition, through its corporate sales division, the Brick Group services the subdivision, condominium, hospitality and high-rise builder market. The Brick Group's retail and franchise operations are located in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Prince Edward Island, Nova Scotia, New Brunswick, the Northwest Territories and Yukon.
SOURCE: The Brick Ltd.
For further information:
President and CEO
The Brick Group
CFO and President, Financial Operations
The Brick Group