Business
Melcor Developments Ltd., EDMONTON AB (TSE:MRD) Postpones Dividend Payment from December 30, 2005 to January 3, 2006
Melcor Developments Ltd., EDMONTON AB (TSE:MRD) Postpones Dividend Payment from December 30, 2005 to January 3, 2006.
About this update from Melcor Developments Ltd.
[{"type":"text","content":"\n\n\n\n\nEDMONTON, Dec. 2 /CNW/ - Melcor Developments Ltd., an Alberta based real\nestate development company, announces that its Board of Directors has decided\nto postpone the date of dividend payment, from December 30th, 2005 to \nJanuary 3rd 2006. As announced on October 31, 2005, the amount of dividend\ncomprises of a semi-annual dividend of $.75 per common share plus a special\ndividend of $1.00 per common share (for a total of $1.75 per common share) to\nshareholders of record on December 15, 2005. Please note that the record date\nhas not changed.\nThis decision has been taken after the announcement by the Federal\nGovernment of its intention regarding a reduction of the effective tax rate on\ndividend payments paid after January 1, 2006. This announcement of the Federal\nGovernment is subject to Parliamentary approval. Furthermore, the positions of\nthe Provincial Governments have not been disclosed in respect with the\nannounced reduction. The Board of Directors' decision has been taken to allow\nour eligible shareholders to benefit by this announced tax reduction.\n\n\n","length":1153,"tagName":"div"}]