Business
Automotive Finco Corp. Announces Loan Extension and Quarterly Cash Dividends
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About this update from Automotive Finco Corp
[{"type":"text","content":"Automotive Finco Corp. Announces Loan Extension and Quarterly Cash Dividends\n\n\n\n\n Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.\n \n\n\n TORONTO, May 22, 2025 (GLOBE NEWSWIRE) -- Automotive Finco Corp. (NEX:\n \n AFCC-H\n \n ) (the “Company”) is pleased to announce that it has declared quarterly cash dividends of $0.0513 per common share ($0.205 per common share on an annual basis) with the initial dividend payable on July 31, 2025 to shareholders of record as of June 30, 2025. The dividend is an eligible dividend.\n \n\n The declaration, timing, 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 and its shareholders and that such dividends comply with all laws and agreements of the Company applicable to the declaration and payment of cash dividends. As such, no assurances can be made that any future dividends will be declared and/or paid.\n \n\n Additionally, the Company advises that pursuant to the loan agreement made by Automotive Finance Limited Partnership to AA Finance Co LP (the “Borrower”) on November 18, 2024, the Borrower has elected to extend the loan six months with the maturity date now being November 18, 2025.\n \n\n\n About Automotive Finco Corp.\n \n\n\n Automotive Finco Corp. is a finance company focused exclusively on the auto retail sector. In addition to its interest in Automotive Finance Limited Partnership, the Company may also pursue other direct investments and financing opportunities across the auto retail sector.\n \n\n\n\n Neither 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.\n \n\n\n\n For further information please refer to the Company's website at\n \n www.autofincocorp.com\n \n or contact Shannon Penney, Chief Financial Officer, at [email protected] or (905) 619-4996.\n \n\n\n\n Cautionary statement regarding forward-looking information\n \n\n\n\n\n Certain disclosures in this release constitu...