RE Royalties Declares Dividend to Shareholders
VANCOUVER, BC / ACCESSWIRE / September 30, 2019 / RE Royalties Ltd. (TSXV:RE) ("RE Royalties" or the "Company") is pleased to announce that the Board of Directors of the Company has declared a cash distribution of $0.01 per issued and outstanding common share for the quarter ending September 30, 2019.
The distribution is payable on November 6, 2019 to shareholders of record on October 16, 2019.
The distribution is designated by the Company to be a dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. The aggregate distributions declared for the current fiscal year total $0.03 per common share.
Bernard Tan, CEO of the Company, commented, "The third quarter marked another strong period for RE Royalties as we were able to provide another dividend, continue to grow our royalty portfolio, and source new accretive opportunities for our shareholders."
On Behalf of the Board of Directors,
About RE Royalties Ltd.
RE Royalties acquires revenue-based royalties from renewable energy generation facilities by providing a non-dilutive financing solution to privately-held and publicly-traded renewable energy generation and development companies. The Company currently owns royalties on solar, wind and hydro projects in Canada, Europe and the United States. The Company's business objectives are to provide shareholders with a strong growing yield, robust capital protection, high rate of growth through re-investment and a sustainable investment focus.
Neither the 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.
Forward Looking Statements
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company and within the meaning of Canadian securities laws. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events or results and may include statements regarding the Company's financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities. The reader is referred to the Company's most recent filings on SEDAR for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com.
SOURCE: RE Royalties Ltd.