Grenville Declares April 2016 Dividend and Announces Year End 2015 Financial Results Conference Call
TORONTO, ONTARIO--(Marketwired - April 14, 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 April 2016, representing $0.07 per share on an annualized basis. The dividend is payable on May 16, 2016 to shareholders of record on April 29, 2016. The ex-dividend date is April 27, 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.
Year End 2015 Financial Results Conference Call
Grenville will release its year end 2015 financial results before the markets open on Wednesday, April 27, 2016 rather than the previously announced date of April 18, 2016. Grenville will host a conference call at 8:00 a.m. ET that same day, Wednesday, April 27, 2016, to review the results. A question and answer session will follow the corporate update.
Early Adoption of IFRS 9
For the Full Year period ended December 31st, 2015, Grenville has elected to early adopt the International Reporting Standard 9 for Financial Instruments (IFRS 9) held by the Company.
CONFERENCE CALL DETAILS
DATE: Wednesday, April 27, 2016
TIME: 8:00 AM Eastern Time
DIAL IN NUMBER: 647-788-4922 or 877-291-4570
TAPED REPLAY: 416-621-4642 or 800-585-8367
REFERENCE NUMBER: 81901363
A recording of the call will be archived on the Company's website at http://www.grenvillesrc.com/investors.
Based in Toronto, Grenville Strategic Royalty Corp. 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 $62.5 million invested in the two years since its inception.
FOR FURTHER INFORMATION PLEASE CONTACT:
Grenville Strategic Royalty Corp.
William (Bill) R. Tharp
President and Chief Executive Officer