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Montfort Capital Announces Pause on Dividends for Series A Class A Preferred Shares and Series 1 Class C Preferred Shares
Montfort Capital Announces Pause on Dividends for Series A Class A Preferred Shares and Series 1 ...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n\n\n\n Montfort Capital Announces Pause on Dividends for Series A Class A Preferred Shares and Series 1 Class C Preferred Shares\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n April 3, 2025\n \n\n /CNW/ -\n \n Montfort Capital Corp. (\"Montfort\" or the \"Company\")\n \n (TSXV: MONT), has elected to pause the quarterly dividend on the Series A Class A Preferred Shares (each, a \"Class A Preferred Share\") and Series 1 Class C Preferred Shares (each, a \"Class C Preferred Share\").  The Board of Directors of\n \n Montfort\n \n has determined that, in consideration of\n \n Montfort's\n \n ongoing restructuring activities and in order to preserve capital to ensure the financial flexibility of\n \n Montfort\n \n , this pause is a prudent and necessary decision for the Company.\n \n\n\n\n\n\n\n\n\n \"As the largest holder of preferred shares, I am committed to seeing the dividend resume as soon as possible,\" said\n \n Ken Thomson\n \n , CEO of\n \n Montfort\n \n , \"but I firmly believe that the board is acting prudently and in the best interest of all\n \n Montfort\n \n stakeholders with its decision to pause the dividend.\"\n \n\n Within the past year,\n \n Montfort\n \n has undertaken a substantial restructuring plan that has included the sale of two business units, significant reduction in overhead costs and indebtedness, and a refocusing of resources on its profitable and growing lines of business operated from its\n \n Toronto\n \n head office.  Significant progress has been made on this restructuring plan and it is nearing completion.  While this will initially result in\n \n Montfort\n \n having a lower base of assets under management, the portfolio will have a reduced risk profile with more stable profitability.  This will enable the continued growth of\n \n Montfort's\n \n core assets and support the broader strategic growth objectives of the Company.\n \n\n\n About Montfort Capital Corp.\n \n\n\n\n Montfort\n \n is a trusted provider of focused private credit strategies for in...