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CareRx Initiates Quarterly Dividend and Receives Regulatory Approval for Renewal of its Normal Course Issuer Bid
Toronto, Ontario--(Newsfile Corp. - September 15, 2025) - CareRx Corporation (TSX: CRRX) (" ...
About this update from Carerx Corporation
[{"type":"text","content":"CareRx Initiates Quarterly Dividend and Receives Regulatory Approval for Renewal of its Normal Course Issuer BidToronto, Ontario--(Newsfile Corp. - September 15, 2025) - CareRx Corporation (TSX: CRRX) (\"CareRx\" or the \"Company\"), Canada's leading provider of pharmacy services to seniors living and other congregate care communities, today announced its intention to pay a quarterly dividend and that the Toronto Stock Exchange (\"TSX\") has accepted its notice to make a normal course issuer bid to repurchase outstanding common shares in the capital of the Corporation (\"Common Shares\").\"The initiation of a quarterly dividend and renewal of our share repurchase program reflects the CareRx team's dedication to delivering robust cash generation and a disciplined capital allocation strategy,\" said Puneet Khanna, President and CEO of CareRx. \"Our shareholders have been supportive partners throughout our multi-year growth journey, and their confidence continues to be rewarded by our strong financial performance. This balanced approach allows us to return capital to shareholders while maintaining financial flexibility to fund growth initiatives.\"The Company reviews all elements of its capital allocation strategy on an ongoing basis. The Company remains committed to investing in organic and inorganic initiatives, including capital expenditures for capacity expansion and to support improved margins, and will also consider selective acquisition opportunities, which in the opinion of management and the Board of Directors will provide an attractive return on capital. Initiation of DividendThe Company's Board of Directors declared a dividend of $0.02 per Common Share, payable on October 15, 2025, to holders of record of Common Shares as of the close of business on September 23, 2025. This dividend is designated as an \"eligible dividend\" for Canadian income tax purposes. Normal Course Issuer BidThe TSX has approved the Company's normal course issuer bid to purchase for cancellation up to 1,500,000 Common Shares (the \"NCIB\"), representing approximately 2.4% of the 62,925,219 Common Shares issued and outstanding as at September 4, 2025. The NCIB will provide CareRx with the flexibility to acquire Common Shares in order to return capital to shareholders, as part of its overall capital management strategy.It is expected that the NC...