Colliers increases semi-annual dividend
December 07 2021 - 4:30PM
Colliers International Group Inc. (TSX and NASDAQ: CIGI)
("Colliers") announced today that its Board of Directors has
declared a semi-annual cash dividend on the outstanding Subordinate
Voting Shares and Multiple Voting Shares (together, the "Common
Shares") of US$0.15 per Common Share, up from US$0.05 per Common
Share previously. The dividend is payable on January 12, 2022 to
holders of Common Shares of record at the close of business on
December 31, 2021. There were 44,028,394 Common Shares outstanding
as of September 30, 2021. The dividend is an "eligible dividend"
for Canadian income tax purposes.
This is the first dividend increase since 2016.
Over the past 5 years, the Company’s operating cash flow has
increased substantially and earnings have become significantly more
resilient, with greater than 50% of earnings currently coming from
recurring sources.
The Board of Directors will reassess dividend
policy periodically in the future, giving consideration to the
Company’s overall growth, its progress toward its Enterprise’25
goals, its financial profile and other relevant factors.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading
diversified professional services and investment management
company. With operations in 65 countries, our more than 15,000
enterprising professionals work collaboratively to provide expert
advice to real estate occupiers, owners and investors. For more
than 26 years, our experienced leadership with significant insider
ownership has delivered compound annual investment returns of
almost 20% for shareholders. With annualized revenues of $3.6
billion ($4.0 billion including affiliates) and $46 billion of
assets under management, we maximize the potential of property and
accelerate the success of our clients and our people. Learn more at
corporate.colliers.com, Twitter @Colliers or LinkedIn.
Forward-looking Statements
Certain information included in this news
release is forward-looking, within the meaning of applicable
securities laws. Much of this information can be identified by
words such as “believe”, “expects”, “expected”, “will”, “intends”,
“projects”, “anticipates”, “estimates”, “continues” or similar
expressions suggesting future outcomes or events. Colliers believes
the expectations reflected in such forward-looking statements are
reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements should
not be unduly relied upon.
Forward-looking statements are based on current
information and expectations that involve a number of risks and
uncertainties, which could cause actual results or events to differ
materially from those anticipated. These risks include, but are not
limited to, risks associated with: (i) general economic and
business conditions, which will, among other things, impact demand
for Colliers’ services and the cost of providing services; (ii) the
ability of Colliers to implement its business strategy, including
Colliers’ ability to identify and acquire suitable acquisition
candidates on acceptable terms and successfully integrate newly
acquired businesses with its existing businesses; (iii) changes in
or the failure to comply with government regulations; and (iv) such
factors as are identified in the Annual Information Form of
Colliers for the year ended December 31, 2020 under the heading
“Risk Factors” (which factors are adopted herein and a copy of
which can be obtained at www.sedar.com). Forward looking statements
contained in this news release are made as of the date hereof and
are subject to change. All forward-looking statements in this news
release are qualified by these cautionary statements. Except as
required by applicable law, Colliers undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise.
COMPANY CONTACT:
Christian MayerChief Financial Officer(416)
960-9500
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