/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
CALGARY, Nov. 15, 2018 /CNW/ - Sylogist Ltd.
("Sylogist" or the "Company") - (TSX-V:SYZ), a provider of
mission-critical Enterprise Resource Planning solutions to public
sector customers, is pleased to announce that its Board has
declared an increased dividend of 9.5
cents per share on Sylogist's Common Shares to shareholders
of record on November 30, 2018. The
dividend, which is payable on December 12,
2018, represents an 18.75% increase from the $0.08 cent dividend paid by Sylogist on
September 12, 2018.
"Our dividend is being increased consistent with our Board's
historical and stated objective of paying shareholders a portion of
the Company's annual Adjusted EBITDA. Together with our
normal course issuer bid, dividends are funded from our increasing
operating cash flows, which leaves a growing acquisition capital
base available for strategic transactions as they arise" stated
Jim Wilson, President & CEO of
Sylogist.
All dividends paid by Sylogist to holders of Common Shares in
the capital of the Company will be treated as eligible dividends
pursuant to the Income Tax Act (Canada).
About Sylogist
Sylogist is a software company that, through strategic
acquisitions, investments and operations management, provides
comprehensive, mission-critical ERP solutions, including fund
accounting, grant management and payroll to public service
organizations. Sylogist's public service customers include
local governments, nonprofit organizations, non-governmental
organizations, educational institutions and government agencies, as
well as public compliance driven and funded. Our Company delivers
highly scalable, multi-language, multi-currency software solutions,
which serve the needs of an international clientele.
Full financial statements together with Management's Discussion
and Analysis are available on SEDAR at www.sedar.com.
The Company's stock is traded on the TSX Venture Exchange under
the symbol SYZ. Information about Sylogist can be found at
http://www.sylogist.com.
Forward-looking Statements
Certain statements in this news release may be
forward-looking statements within the meaning of applicable
securities laws and regulations. These statements
typically use words such as expect, believe, estimate, project,
anticipate, plan, may, should, could and would, or the negative of
these terms, variations thereof or similar terminology.
Forward-looking information in this news release includes
statements with respect to the Company's growing its acquisition
capital base available for strategic acquisitions as they arise. By
their very nature, forward-looking statements are based on
assumptions and involve inherent risks and uncertainties, both
general and specific in nature. It is therefore possible that
the beliefs and plans and other forward-looking expectations
expressed herein will not be achieved or will prove
inaccurate. Although Sylogist believes that the expectations
reflected in these forward-looking statements are reasonable, it
provides no assurance that these expectations will prove to have
been correct. Forward-looking information involves risks,
uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Additional information regarding some of these risks,
uncertainties and other factors may be found under in the
management's discussion and analysis for the quarter ended
June 30, 2018, and other documents
available on the Company's profile at www.sedar.com. Sylogist
disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
Certain information set out herein may be considered as
"financial outlook" within the meaning of applicable securities
laws. The purpose of this financial outlook is to provide readers
with disclosure regarding Sylogist's reasonable expectations as to
the anticipated results of its proposed business activities for the
periods indicated. Readers are cautioned that the financial outlook
may not be appropriate for other purposes.
Non-GAAP Financial Measures
(1) Adjusted EBITDA is a non-GAAP financial measure: Adjusted
EBITDA is defined as: profit for the period before stock based
compensation, foreign exchange gains or losses, interest expense,
bargain purchase price on acquisition, income taxes,
acquisition-related costs, depreciation and amortization.
This news release makes reference to a certain non-GAAP
measure. This measure is not recognized measures under
Canadian GAAP, does not have a standardized meaning prescribed by
Canadian GAAP and are therefore may not be comparable to a similar
measure presented by other issuers. This measure is provided as
additional information to complement measures under GAAP by
providing further understanding of the Company's expected results
of operations from management's perspective. Accordingly, such a
measure should not be considered in isolation nor as a substitute
for analysis of the Company's financial information reported under
Canadian GAAP.
Adjusted EBITDA is provided to investors as an alternative
method for assessing the Company's operating results in a manner
that is focused on the Company's ongoing operations and to provide
a more consistent basis for comparison between periods. This
measures should not be construed as alternatives to net profit
(loss) or cash flow from operating activities determined in
accordance with GAAP as an indicator of the Company's
performance.
- Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release-
SOURCE Sylogist Ltd.