EDMONTON,
AB, Feb. 16, 2022 /CNW/
- Imperial Equities Inc. (TSXV: IEI) today announced a
decision of its Board of Directors to raise the Company's dividend
to $.08/share annually ($.02/quarterly) payable to shareholders beginning
in Q2 2022.
The Company will announce the distribution date
and record date for its Q2 2022 dividend at a later date.
"After careful consideration, our Board of
Directors has approved an increase in dividends payable to our
shareholders. This move comes as our Company is experiencing
renewed economic stability, steady and improving Company
performance and optimism about our long-term prospects," said Sine
Chadi, President and CEO of Imperial Equities. "It has always been
our intent to increase the dividend in an upwards direction at the
appropriate time, recognizing the importance of a consistent
dividend as a key Company mandate and a shareholder priority. This
is an incremental step and one which we still take with caution,
though our goal is to continue to move the dividend upwards as
Company growth and revenues warrant the change."
The Company suspended its dividend after Q2 2020
due to uncertainty arising from the COVID pandemic. The dividend
was reinstated in Q1 2021 at a rate of $.06/share annually and was paid at that rate for
five consecutive quarters.
Forward-Looking Statements:
This news release contains certain
forward-looking information and forward-looking statements
(collectively referred to herein as "forward-looking statements")
within the meaning of applicable Canadian securities laws.
Forward-looking statements in this news release include references
to dividends and expectations that the Company's operating
revenues can cover an increasing dividend payment. Despite this
projection, shareholders are cautioned that past issuance of a
dividend by the Company and forward guidance on dividends does not
guarantee that future dividends will be issued. All statements and
information about the Company's future dividend payments are
forward-looking statements.
About Imperial Equities Inc:
Based in Edmonton,
Alberta, Imperial Equities Inc. is a publicly traded company
anchored by industrial, agricultural, and commercial real
estate properties in its targeted markets throughout Western Canada. 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.
