URBANFUND CORP. DECLARES DIVIDEND NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
September 19, 2022 – For Immediate Release
Toronto, Ontario – Mitchell Cohen, Chief Executive Officer and President of Urbanfund Corp. (TSX-V: UFC) (“Urbanfund” or the “Company”), announces that the Board of Directors of the Company has declared a dividend of $0.0125 per common share and $0.0125 per Series A, first preferred share for the three-month period ended September 30, 2022, representing $0.05 per share on an annualized basis. The dividend is payable on October 17, 2022 to the shareholders of record on September 30, 2022.
This dividend is designated by the Company as an eligible dividend as defined by 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 Company has Dividend Reinvestment Plans for holders of its common shares and Series A, first preferred shares (collectively, the "DRIPs"). The DRIPs provide eligible shareholders with the opportunity to reinvest their cash dividends, on each dividend payment date, in additional common shares of the Company at a 5% discount to the volume-weighted average trading price of the common shares for the ten-day period preceding the dividend payment date. Shareholders are encouraged to review the text of the DRIPs, which are available at www.sedar.com, and consult with their investment advisors should they desire to participate.
The declaration and payment of dividends is at the discretion of the board of directors of the Company and any future declaration of dividends will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the board of directors of the Company.
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