Business
49 North Resources Inc. Declares Quarterly Dividend of $0.02 Per Share
TSX Venture Exchange symbol FNR SASKATOON, SK, Aug. 29, 2011 /CNW/ - 49 North Resourc...
About this update from 49 North Resources Inc
[{"type":"text","content":"\n\n\n\n\n\nTSX Venture Exchange symbol FNR\n\n\nSASKATOON, SK, Aug. 29, 2011 /CNW/ - 49 North Resources Inc. (\"49 North\"\n or the \"Company\") (TSXV: FNR) today declared aggregate cash dividends\n of $0.02 on each common share outstanding, payable on or after\n September 25, 2011 to shareholders of record at the close of business\n on September 15, 2011. Subject to board of director approval, 49 North\n intends to pay an ongoing quarterly dividend of $0.02 per common share.\n\n\nWith respect to the dividends declared, the Company currently carries a\n balance in its low rate income pool, therefore only approximately\n $0.0027 per share constitutes an \"eligible dividend\" for Canadian\n income tax purposes. Shareholders with questions regarding the tax\n treatment of dividends should consult their own tax advisors or contact\n their local office of the Canada Revenue Agency and where applicable,\n the provincial tax authorities.\n\n\n49 North is a Saskatchewan focused resource investment company with\n strategic operations in financial, managerial and geological advisory\n services and merchant banking. Our diversified portfolio of assets\n includes direct project involvement in the resource sector, as well as\n investments in shares and other securities of junior and intermediate\n mineral and oil and gas exploration companies. Additional information\n about 49 North is available at www.sedar.com.\n\n\nForward Looking Information: This release contains forward-looking\n information within the meaning of applicable Canadian securities\n legislation. In particular but without limitation, this press release\n includes references to the payment, timing and quantum of future\n dividends. Forward-looking information involves known and unknown\n risks, uncertainties and other factors that may cause actual results or\n events to differ materially from those expressed or implied by such\n forward-looking information, including the Corporation's financial\n performance, liquidity, outlook and such other factors as the board of\n directors of the Corporation determine to be relevant when considering\n the approval of dvidends. In addition, the forward-looking information\n contained in this release is based upon what management believes to be\n reasonable assumptions. Readers are cautioned not to place undue\n reliance on forward-looki...