Chesswood Group Limited
TSX : CHW

Chesswood Group Limited

January 18, 2011 08:00 ET

Chesswood Group Limited Announces an Increase in Monthly Dividend

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2011) - Chesswood Group Limited (the "Company") (TSX:CHW), the successor to Chesswood Income Fund (the "Fund"), is pleased to announce an increase in the monthly dividend to $0.05 per share compared to a monthly distribution of $0.045 per unit paid by the Fund prior to its conversion into the Company. 

Monthly dividends will remain at this level until such time as the board of directors may determine that a change is appropriate. 

The amount of any dividends payable by the Company will be at the discretion of the board of directors of the Company, will be evaluated on an ongoing basis, and may be revised subject to business circumstances and expected capital requirements depending on, among other things, the Company's earnings, financial requirements for its operating entities, growth opportunities, the satisfaction of applicable solvency tests for the declaration and payment of dividends and other conditions existing from time to time.

January's dividend will be payable to shareholders of record at the close of business on January 31, 2011 and will be paid on February 15, 2011.

About Chesswood Group Limited 

As the successor to the Fund, the Company is a financial services company with operating businesses in both Canada and the U.S., including the commercial leasing business carried through its Pawnee Leasing Corporation subsidiary and automotive dealership business carried on by Sherway LP.

This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

Contact Information