Grenville Declares March 2016 Dividend
TORONTO, ONTARIO--(Marketwired - March 16, 2016) -
NOT FOR DISTRIBUTION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.
Grenville Strategic Royalty Corp. (TSX VENTURE:GRC) ("Grenville" or the "Corporation") announces that the board of directors of the Corporation has declared a dividend of $0.00583 per common share for the month of March 2016, representing $0.07 per share on an annualized basis. The dividend is payable on April 15, 2016 to shareholders of record on March 31, 2016. The ex-dividend date is March 29, 2016.
This dividend is designated by the Corporation to be an eligible dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents. The declaration and payment of dividends is at the discretion of the board of directors of the Corporation and any future declaration of dividends will depend on the Corporation's financial results, cash requirements, future prospects and other factors deemed relevant by the board of directors of the Corporation.
Based in Toronto, Grenville is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments and buyouts from contracts. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms. To date, Grenville has announced cash inflows of $23.4 million from $56.9 million invested in the two years since its inception.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Grenville Strategic Royalty Corp.
William (Bill) R. Tharp
President and Chief Executive Officer