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CALGARY, AB, June 17, 2020 /CNW/ - Alaris Royalty Corp. ("Alaris" or the "Corporation") (TSX: AD) announces that the Board of Directors of the Corporation (the "Board") has declared a dividend of $0.29 per common share for the second quarter 2020, representing $1.16 per share on an annualized basis. The dividend is payable on July 15, 2020 to shareholders of record on June 30, 2020. The ex-dividend date is June 29, 2020. As previously announced on March 5, 2020, the Corporation will be paying quarterly dividends going forward. 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.
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. Distributions from the Private Company Partners are adjusted each year based on the percentage change 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.
SOURCE Alaris Royalty Corp.