CALGARY, ALBERTA--(Marketwired - Feb. 6, 2017) - Olympia Financial Group Inc. ("Olympia") (TSX:OLY) is pleased to announce changes to its dividend policy that will see future dividends on Olympia's common shares declared and paid on a monthly basis commencing February 2017.
Further to these announced changes, Olympia's Board of Directors has declared a monthly cash dividend on its common shares of $0.17 per common share. The dividend will be payable on February 28, 2017 to shareholders of record as at February 16, 2017. The ex-dividend date is February 14, 2017.
Olympia designates the entire amount of this taxable dividend to be an "eligible dividend" for purposes of the Income Tax Act (Canada), as amended from time to time. Please contact your tax advisor if you have any questions with regards to the designation of the eligible dividend.
About Olympia Financial Group Inc.
Olympia conducts most of its operations through its wholly-owned subsidiary Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick and Nova Scotia. Olympia Trust Company administers self-directed registered accounts and offers foreign currency exchange services. OFGI also offers private health services plans through its wholly-owned subsidiary Olympia Benefits Inc., operates an ATM business through its wholly-owned subsidiary Olympia ATM Inc. and provides information technology services to exempt market dealers, registrants and issuers through its subsidiary Exempt Edge Inc.
Olympia's common shares are listed on the Toronto Stock Exchange under the symbol "OLY".
Statements Regarding Forward Looking Information
Certain portions of this press release as well as other public statements by Olympia contain "forward- looking information" within the meaning of applicable Canadian securities legislation, which is also referred to as "forward -looking statements", which may not be based on historical fact. Wherever possible, words such as "will", "plans," "expects," "targets," "continue", "estimates," "scheduled," "anticipates," "believes," "intends," "may," and similar expressions or statements that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved, have been used to identify forward-looking information. Forward-looking statements contained in Olympia's public disclosure include, without limitation, Olympia's earnings expectations, fee income, expense levels, general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, technological change, changes in government regulations, unexpected judicial or regulatory proceedings, catastrophic events, and Olympia's ability to complete strategic transactions and other factors. In addition, this news release contains forward looking statements relating to the declaration of future dividends by Olympia.
All material assumptions used in making forward-looking statements are based on management's knowledge of current business conditions and expectations of future business conditions and trends, including their knowledge of the current interest rate and liquidity conditions affecting Olympia and the Canadian economy. Certain material factors or assumptions are applied by Olympia in making forward-looking statements, including without limitation, factors and assumptions regarding interest and foreign exchange rates, availability of key personnel, the effect of competition, government regulation of its business, computer failure or security breaches, future capital requirements, acceptance of its products in the marketplace, its operating cost structure, the current tax regime and the ability of Olympia to obtain necessary third party and governmental approvals, as applicable, to secure the employment of the requisite employees, and retain existing customers and generate new business.