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ELYSEE earns $1,817,312 ($0.07 per share) during the thirteen months ended December 31, 2019; declares final dividend of $0.02 per share for fiscal 2019
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2020) - Elysee Development Corp. ...
About this update from Elysee Development Corp
[{"type":"text","content":"ELYSEE earns $1,817,312 ($0.07 per share) during the thirteen months ended December 31, 2019; declares final dividend of $0.02 per share for fiscal 2019Vancouver, British Columbia--(Newsfile Corp. - February 21, 2020) - Elysee Development Corp. (TSXV: ELC) is pleased to announce its audited financial results for the thirteen month period ended December 31, 2019 (\"FY2019\") its seventh straight year of profitable operations and fifth year paying out a significant dividend. All dollar amounts are in Canadian funds.Highlights of fiscal 2019 results include:Net income increased to $1,817,312 ($0.07 per share) in FY2019 from $1,289,273 ($0.06 per share) in FY 2018;Net investment income increased 29% to $2,440,637 in FY2019;Final dividend of $0.02 per share declared for 2019, bringing the total annual dividend for FY2019 to $0.03 per share; andNet Asset Value per share rose to $0.56 per share at December 31, 2019.In accordance with the Company's policy of returning cash to the shareholders, the board of directors of Elysee has declared a dividend of two cents ($0.02) per common share. The dividend is to be paid on March 9, 2020 to shareholders of record on March 2, 2020. This is an eligible dividend for Canadian income tax purposes. Elysee paid an interim dividend of $0.01 per share on July 31, 2019. As a result, the total dividend attributable to our fiscal 2019 results amounts to $0.03 per share, which represents a gross dividend yield of approximately 8% based on our current share price. Guido Cloetens, the Executive Chairman of Elysee, stated: \"We are extremely pleased with our continued solid performance during fiscal 2019, which now marks our seventh consecutive year of profitability and our fifth consecutive year of paying a dividend. Our balance sheet remains very strong, with over $15 million in net assets and no debt as at December 31, 2019.\"On December 31, 2019 Elysee's largest single investment was a 12.3% interest in U.S.Vanadium LLC (\"USV\") which represents an investment of approximately $2.4 million. In October, 2019 USV acquired an operating vanadium processing facility located in Hot Springs, Arkansas (see our news release of October 15, 2019). Our actively managed investment portfolio is diversified with a focus on natural resources and in particular the precious metals sector.The most significant publicly trade...