Builders Capital Mortgage Corp. Announces Class A Non-Voting Share Distribution

CALGARY, Alberta, March 20, 2019 (GLOBE NEWSWIRE) -- Builders Capital Mortgage Corp. (the a??Companya??) (TSXV: BCF) announced today that its board of directors has declared a distribution of $0.1973 per Class A Non-Voting share of the Company.A  The distribution will be paid on April 30, 2019 to holders of Class A Non-voting shares of record on March 31, 2019.
The amount of the distribution is equivalent to approximately $0.80 per Class A Non-Voting share, or 8% on the original $10.00 issue price, per annum prorated for the 90-day period from January 1, 2019 to
March 31, 2019.The Companya??s financial statements for the year-ended December 31, 2018 will be filed within the next few weeks and, as a result of the continued poor performance of the real estate sector in our primary markets, will include a larger than usual allowance for doubtful loans which has been recorded in the fourth quarter of the 2018 fiscal year. The Class A Non-Voting shareholders receive any dividends declared in priority to the Class B Non-Voting shareholders and, as intended, this priority has meant that the recent difficult construction lending market has not affected the Companya??s planned 8% per year distribution on its Class A Non-voting shares. The Company will continue to set aside amounts it considers prudent to cover future potential loan losses.For further information, please contact:John Strangway, Chief Financial Officer
Telephone: (403) 685-9888Builders Capital Mortgage Corp.
Suite 405, 1210 a?? 8th Street SW
Calgary, Alberta T2R 1L3Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Сентябрь 2019    »