Dividends

Dividend Policy

On March 20, 2012, the Board of Directors declared a dividend of $0.0325 per common share for shareholders of record on June 29, 2012 to be paid on July 13, 2012.  On a go forward basis, the declaration of dividends will be determined on a quarter-by-quarter basis by the Board of Directors based on the sustainable cash flow and earnings of the Company.  At this time, it is the Board's intent to pay quarterly dividends of $0.01625 per common share to shareholders of record at the end of September and December 2012 resulting in an annual dividend of $0.065 per common share.

Dividend Taxation

The dividend qualifies as an eligible dividend pursuant to subsection 89(1) of the Income Tax Act (Canada) for Canadian income tax purposes.

Dividend History