CALGARY, ALBERTA--(Marketwired - May 17, 2013) -
NOT FOR DISTRIBUTION IN THE UNITED STATES
Alaris Royalty Corp. ("Alaris" or the "Corporation") (TSX:AD) announces that the Board of Directors of the Corporation has declared a dividend of $0.105 per common share, representing $1.26 per share on an annualized basis. The dividend is payable on June 17, 2013 to holders of record on May 31, 2013. The ex-dividend date is May 29, 2013.
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.
Alaris is also pleased to announce that its previously announced plan of arrangement (the "Arrangement"), which was approved by shareholders at the annual and special meeting held on April 18, 2013, was completed on May 8, 2013. In accordance with the terms of the Arrangement, an aggregate of approximately 40,100 common shares were sold on behalf of Non-Qualified U.S. Shareholders (as that term is defined in the Corporation's management information - proxy circular dated March 20, 2013).
The Corporation provides alternative financing for a diversified group of private businesses ("Private Company Partners") in exchange for royalties or distributions from the Private Company Partners, with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders. Royalties or distributions from the Private Company Partners are structured as a percentage of a "top line" financial performance measure such as gross margin and same-store sales and rank in priority to the owners' common equity position.
The common shares of Alaris Royalty Corp. trade on the Toronto Stock Exchange under the trading symbol AD.