CALGARY, May 4, 2017 /CNW/ - Mosaic Capital Corporation
("Mosaic") (TSX-V Symbols: M and M.DB) is
pleased to announce that its board of directors has approved a
monthly dividend on Mosaic's common shares (TSX-V Symbol: M)
of $0.035 per share (or $0.42 per share on an annualized basis). This
dividend will be paid May 31, 2017 to
holders of record on May 15, 2017.
The objective of paying a dividend is to allow common shareholders
of Mosaic to participate in our free cash flow while ensuring
Mosaic retains sufficient capital to preserve its strong balance
sheet, continue its acquisition strategy and fund organic
growth.
Mosaic's dividend on its common shares is designated to be an
eligible dividend for purposes of the Income Tax Act
(Canada) and any similar
provincial or territorial legislation. An enhanced dividend
tax credit applies to eligible dividends paid to Canadian
residents.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of
established businesses which span a diverse range of industries and
geographies. Mosaic's strategy is to create long-term value
for its shareholders through accretive acquisitions, long-term
portfolio ownership, sustained cash flows and organic portfolio
growth. Mosaic achieves its objectives by maintaining
financial discipline, acquiring businesses at attractive
valuations, performing extensive acquisition due diligence,
utilizing optimal transaction structuring and working closely with
subsidiary businesses after acquisition.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Mosaic Capital Corporation