Business
Mosaic Capital Corporation Increases Quarterly Dividend on Common Shares By 100%
Mosaic Capital Corporation Increases Quarterly Dividend on Common Shares By 100% Calgary, Alb...
About this update from Myriad Uranium Corp
[{"type":"text","content":"Mosaic Capital Corporation Increases Quarterly Dividend on Common Shares By 100%Mosaic Capital Corporation Increases Quarterly Dividend on Common Shares By 100%\n\nCalgary, Alberta CANADA, October 16, 2013 /FSC/ - Mosaic Capital Corporation  (M - TSX Venture, M.PR.A - TSX Venture), (\"Mosaic\"), is pleased to announce that its Board of Directors has approved the doubling of the quarterly dividend on Mosaic's common shares increasing it from $0.03 per share to $0.06 per share (or $0.24 per share on an annualized basis).  A dividend at the new rate of $0.06 per share has been declared and will be paid November 15, 2013 to holders of record on October 31, 2013. \n\n\"I am very pleased to announce the increase in the dividend to our common shareholders today,\" commented John Mackay, Executive Chairman and CEO. Mr. Mackay added, \"When we initiated our dividend in January of 2012 our intention was to take a balanced approach of returning a portion of our free cash flow to our shareholders. As we continue to grow our businesses and make acquisitions, it is our intent for shareholders to continue to participate in the growth of our free cash flow through a growing dividend.  I believe that the capital structure of Mosaic along with our investment philosophy of acquiring great businesses with strong management teams and a history of free cash flow makes Mosaic a good vehicle for dividend growth.  With capital available for deployment and a strong pipeline of deal flow, we are very well positioned for future acquisitions.\"\n\nABOUT MOSAIC CAPITAL CORPORATION\n\nMosaic is an investment company based in western Canada that owns a portfolio of established businesses that have a history of generating cash flow from their operations.  Mosaic's objective is to create long term value for our shareholders and business partners and to have that reflected in our share price. We believe that this is achieved by growing free cash flow per share and retained earnings.  We do this by acquiring businesses that we understand at attractive prices and we manage our risk through extensive due diligence, creative transaction structuring and working closely with our businesses after acquisition.\n\nWe strongly encourage the management teams of our operating companies to continue to look for acquis...