Business
Queen's Road Capital Announces Maiden Dividend of C$0.015/Share
Hong Kong, Hong Kong--(Newsfile Corp. - October 18, 2021) - Queen's Road Capital Investment L...
About this update from Queen's Road Capital Investment Ltd.
[{"type":"text","content":"Queen's Road Capital Announces Maiden Dividend of C$0.015/ShareHong Kong, Hong Kong--(Newsfile Corp. - October 18, 2021) - Queen's Road Capital Investment Ltd. (TSXV: QRC) (the \"Company\" or \"Queen's Road Capital\") is pleased to declare its maiden dividend of C$0.015/share payable on November 19, 2021 (\"Dividend Payment Date\"). The dividend is payable to all shareholders of record as at November 15, 2021 (\"Dividend Record Date\").Since its inception in February 2020, Queen's Road Capital's strategy has been to make cash generating, high-quality investments with the objective of paying out, as a dividend, excess interest income above the Company's annual costs of operating the business. During the 20 months since the inception of the Company, Queen's Road Capital has generated triple digit returns on its most significant investments providing a strong foundation for the announcement of this inaugural dividend.On October 14, 2021, the Company approved a dividend reinvestment plan (\"DRIP\") allowing investors to receive Queen's Road Capital shares in lieu of cash as a dividend. The DRIP, as approved by the TSX Venture Exchange, allows for the issuance over coming years of up to 10% of the current issued and outstanding shares of the Company which would represent a total of 27,725,265 shares. In order to participate in the DRIP, shareholders of record need to sign anytime up to five (5) business days prior to the Dividend Record Date.In order to process their DRIP application:Registered shareholders (those holding share certificates and/or shares under the Direct Registration System - DRS) must sign up directly with the transfer agent (Computershare) on its website (www.investorcentre.com) or by calling Computershare's shareholder enquiry line at +1-800-564-6253;Beneficial shareholders (those holding their shares through brokerage houses which are in turn held via the Canadian Depository for Securities - CDS and the Depositary Trust Company - DTC) must sign up by contacting their respective brokers and/or their CDS/DTC representatives.The number of shares to be received by DRIP participants will be based on a 10% discount to the 5-day volume weighted average share price of the Company prior to the Dividend Payment Date. All shares paid under the DRIP will be issued from treasury.Major shareholders representing approximately 6...