Toronto, Ontario--(Newsfile Corp. - March 30, 2021) - Lorne Park Capital Partners Inc. (TSXV: LPC) ("LPCP") is pleased to announce that its Board of Directors has approved the initiation of quarterly cash dividends to its shareholders and the declaration of the first cash dividend in the Company's history. The dividend of $0.005 per common share is payable on April 27, 2021 to the shareholders of record as of April 13, 2021.
LPCP was created to bring together boutique investment management and wealth advisory firms in order to deliver robust, cost effective investment solutions to its clients. The Company has grown substantially and had its best year on record in 2020. President and CEO Robert Sewell states, "Since our core investment philosophy is designed for income investors, we feel its appropriate that LPCP take the next step in becoming a dividend growth company. Our team has worked very hard to build the Company to what it is today. Our growth and solid financial situation tells us the time is right to begin what we believe will be a lasting quarterly dividend payment initiative. We have a strong shareholder base that has loyally provided their support over the years, and I am pleased to say that this dividend declaration is part of our strategic plan to maximize returns to our shareholders."
The dividend payments qualify as eligible dividends for Canadian income tax purposes. The declaration, amount and payment of future cash dividends are subject to the Board of Directors' continuing determination that the payment of dividends is in the best interests of the Company, its shareholders and is in compliance with all laws and agreements of the Company applicable to the declaration and payment of cash dividends. The ability of the Company to pay future dividends will be reviewed on a quarterly basis taking into consideration actual and forecasted cash flows and the macroeconomic outlook at that point in time.
About Lorne Park Capital Partners Inc.
LPCP was created to bring together boutique investment management and wealth advisory firms in order to deliver robust, cost effective investment solutions to affluent investors, foundations, estates and trusts. LPCP's unique strategy creates better alignment between investment managers and wealth advisors while providing them with additional resources to accelerate their growth.
For further information, please contact:
Robert Sewell
Chief Executive Officer
Lorne Park Capital Partners Inc.
investor.relations@lpcp.ca
(905) 337-2227
Cautionary Notes
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.
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "plan", and other similar expressions. Forward looking information in this news release includes, without limitation, LPCP's objectives, goals and future plans. Forward-looking information addresses possible future events, conditions and financial performance based upon management's current expectations, estimates, projections and assumptions. In particular, the forward-looking information contained in this news release reflects assumptions about the timing and results of the amalgamation and regulatory approvals. Management of LPCP considers the assumptions on which the forward-looking information contained herein are based to be reasonable. However, by its very nature, forward-looking information inherently involves known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such information. Such risks include, without limitation, changes in economic conditions, applicable laws or regulations. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. LPCP disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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