TORONTO, March 19, 2013 /CNW/ - The board of directors of NexC Partners Corp. (the "Company") (TSX: NXC) has today declared an initial dividend of $0.055 per share on Class A Shares, Class F Shares and Class J Shares of the Company. This initial dividend covers the period from February 20, 2013 (the closing date of the Company's initial public offering) to March 28, 2013. The initial dividend is payable on April 2, 2013 to holders of record at the close of business on March 28, 2013.
The Company intends to declare and pay quarterly cash dividends initially equal to $0.125 per share. On an annualized basis, this would represent a yield on the original issue price of approximately 5.00%. These dividends are designated as "eligible" Canadian dividends for the purposes of the Income Tax Act ( Canada) and any similar provincial and territorial legislation.
The Company is managed by Purpose Investments Inc., a new Canadian asset management firm committed to enabling all investors to have access to great investment products at reasonable fees. The Class A Shares of the Company are listed for trading on the Toronto Stock Exchange under the symbol NXC.
SOURCE NexC Partners Corp.