Urbana Corporation

TSX : URB
TSX : URB.A
CSE : URB
CSE : URB.A


Urbana Corporation

February 14, 2014 08:00 ET

Urbana Corporation: Approval/Adoption of Dividend Policy and Declaring Dividend

TORONTO, ONTARIO--(Marketwired - Feb. 14, 2014) -

NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A)(CSE:URB)(CSE:URB.A) announces today that its Board of Directors (the "Board") has approved and initiated a dividend policy to pay an annual cash dividend to the holders of common and non-voting Class A shares of Urbana (collectively, the "Shareholders").

Urbana intends to pay a cash dividend of five cents ($0.05) per share to the Shareholders in March each year beginning March, 2014.

The amount of dividend to be paid is determined each year by the Board, taking into consideration all factors that the Board deems relevant, including the performance of Urbana's investments, the economic and market conditions, and financial situation of Urbana.

Urbana further announces that today its Board of Directors declared a cash dividend of five cents ($0.05) per share on the issued and outstanding common and non-voting Class A shares of Urbana, payable on the 17th of March, 2014, to the Shareholders of record at the close of business on the 3rd day of March, 2014.

Eligible Dividend Designation - pursuant to subsection 89(14) of the Income Tax Act of Canada (ITA) each dividend paid by Urbana qualifies as and is designated an eligible dividend for Canadian income tax purposes, as defined in subsection 89(1) of the ITA.

On behalf of Urbana's Board of Directors,

Thomas S. Caldwell, C.M.

Contact Information

  • Urbana Corporation
    Elizabeth Naumovski
    Investor Relations
    416-595-9106
    416-862-2498 (FAX)
    www.urbanacorp.com