GVIC Communications Corp.

TSX : GCT
TSX : GCT.C


March 11, 2014 15:41 ET

GVIC Announces Dividend

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 11, 2014) - GVIC Communications Corp. ("GVIC" or the "Company") (TSX:GCT)(TSX:GCT.C) announces that the board has declared the payment of a quarterly cash dividend of $0.006 per share payable to shareholders of record of Class B voting common shares and Class C non-voting shares at the start of business on March 25, 2014. The dividend will be paid on April 7, 2014. The dividend is consistent with the Company's dividend policy of paying $0.024 per share per annum payable quarterly.

The dividend is an eligible dividend for Canadian tax purposes.

Shares in GVIC can be traded on the Toronto Stock Exchange under the symbols GCT and GCT.C.

About the Company: GVIC Communications Corp. is an information communications company focused on the provision of primary and essential information and related services through print, electronic and online media. GVIC is pursuing this strategy through its core businesses: the local newspaper, trade information and business and professional information markets.

Forward-Looking Statements

This news release contains forward-looking statements that relate to, among other things, the Company's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates. These forward-looking statements include, among other things, statements relating to the Company's intention to pay dividends, pursue acquisitions and repurchase shares. These forward looking statements are based on certain assumptions, including continued economic recovery and the realization of cost savings, available financial resources and the declaration of future dividends by the Board of Directors and are subject to risks, uncertainties and other factors which may cause results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, and undue reliance should not be placed on such statements.

Important factors that could cause actual results to differ materially from these expectations are listed in the Company's Annual Information Form under the heading "Risk Factors" and in the Company's MD&A under the heading "Business Environment and Risks", many of which are out of the Company's control. These factors include, but are not limited to, the ability of the Company to sell advertising and subscriptions related to its publications, foreign exchange rate fluctuations, the seasonal and cyclical nature of the agricultural industry, discontinuation of Department of Canadian Heritage, Canada Periodical Fund, general market conditions in both Canada and the United States, changes in the prices of purchased supplies including newsprint, the effects of competition in the Company's markets, dependence on key personnel, integration of newly acquired businesses, technological changes, and financing and debt service risk.

The forward-looking statements made in this news release relate only to events or information as of the date on which the statements are made. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Contact Information

  • GVIC Communications Corp.
    Mr. Orest Smysnuik
    Chief Financial Officer
    604-708-3264