Input Capital Corp. Initiates Dividend Policy and Announces First Dividend Payment
REGINA, Dec. 7, 2016 /CNW/ - Input Capital Corp. ("Input" or the "Company") (TSX Venture: INP) (US: INPCF) announces that as part of the Company's long-term strategy to maximize shareholder value, the Board of Directors has approved the implementation of a new dividend policy whereby the Company will pay a quarterly dividend to class "A" common shareholders. The declaration and payment of dividends on the Company's Class "A" common shares is at the discretion of the Board of Directors which takes into account the Company's financial results, capital requirements, available cash flow, future prospects of the Company's business and other factors considered relevant from time to time.
"We have long stated that a dividend was likely in Input's future, and we feel that time has come," stated Input President & CEO Doug Emsley. "Input is now sufficiently funded to deliver on its business plan and pay a regular dividend to shareholders."
Concurrent with the establishment of this dividend policy, the Board of Directors has declared an inaugural quarterly dividend of CAD $0.01 per class "A" common share payable in cash on January 16, 2017 to shareholders of record on December 30, 2016.
This dividend has been designated as an "eligible dividend" for Canadian income tax purposes.
Input is an agriculture commodity streaming company with a focus on canola, the largest and most profitable crop in Canadian agriculture. Input enters into multi-year canola streaming contracts with canola farmers in western Canada. Pursuant to the streaming contract, Input purchases a fixed portion of the canola produced, at a fixed price, for the duration of the term of the contract. Input is a non-operating farming company with a diversified portfolio of canola streams, all of which produce canola and revenue for Input within a year of being signed. Input plans to grow and diversify its low cost canola production profile through entering into additional canola streaming contracts with farmers across western Canada. Input is focused on farmers with quality production profiles, excellent upside yield potential, and strong management teams.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements
This release includes forward-looking statements regarding Input and its business. Such statements are based on the current expectations and views of future events of Input's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Input, including risks regarding the agricultural industry, economic factors and the equity markets generally and many other factors beyond the control of Input. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Input undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Input Capital Corp.
INPUT CAPITAL CORP.
300 – 1914 Hamilton Street
Phone (306) 347-3006
Fax (306) 352-4110