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KELOWNA, BC, Feb. 14, 2025 /CNW/ - Decisive Dividend Corporation (TSXV: DE) (the "Corporation") announced today that, in accordance with its current monthly dividend policy, the directors of the Corporation have declared a dividend of $0.045 per common share for the month of March 2025. The dividend is payable on March 14, 2025, to the shareholders of record at the close of business February 28, 2025.
Eligible shareholders have the opportunity to reinvest dividends in accordance with the Corporation's dividend reinvestment and cash purchase plan (the "DRIP"). Additional details are available under the investors section of the Corporation's website www.decisivedividend.com. This dividend is designated as an "eligible" dividend under the Income Tax Act (Canada) and any corresponding provincial legislation ("Tax Legislation").
The Corporation is also pleased to announce that the TSX Venture Exchange (the "TSXV") has accepted the renewal of its normal course issuer bid ("NCIB"). Under the renewed NCIB, Decisive may purchase up to an aggregate of 985,552 common shares, representing 5% of the 19,711,039 issued and outstanding common shares on the date hereof (prior to the issuance of any common shares issuable under the DRIP in respect of the dividend payable on February 14, 2025).
Purchases of common shares under the NCIB may be made during the period commencing on February 17, 2025, and ending on February 13, 2026, or an earlier date in the event that the Corporation purchases the maximum number of the common shares available under the NCIB. Decisive reserves the right to terminate the NCIB at any time. Common shares may be purchased through the facilities of the TSXV or such other permitted means (including through alternative trading systems in Canada) at prevailing market prices. All common shares acquired directly by the Corporation under the NCIB will be cancelled.
Decisive sought renewal of its NCIB because it believes that, from time to time, the market price of the common shares may not fully reflect the value of the common shares. Decisive believes that, in such circumstances, the purchase of common shares represents an attractive use of its cash resources, from which Decisive intends to fund purchases under the NCIB. Decisive will continue to utilize BMO Nesbitt Burns Inc. as the broker through which the NCIB will be conducted. Under its previous NCIB, that commenced on February 16, 2024, and expired on February 14, 2025, Decisive purchased and cancelled 19,200 common shares at a weighted average price of $6.60 per common share.