Common Shares Dividend Policy
The declaration and payment of dividends and the amount thereof are at the discretion of the Board of Directors, which takes into account the Corporation’s financial results, capital requirements, available cash flow and any other factors considered relevant when making decisions. The Corporation’s general policy is to pay a dividend representing the greater of (1) $1.50/share; or (2) 50% of net income per adjusted common share, giving consideration to cash position during the year, future cash flow requirements as well as growth and investment opportunities.
Common Dividend Dates
The declaration and payment of quarterly dividends are made subject to approval by the Board of Directors. The anticipated record and payment for dates in 2012 are:
| March 31, 2012 |
April 15, 2012 |
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| June 30, 2012 |
July 15, 2012 |
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| September 30, 2012 |
October 15, 2012 |
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| December 31, 2012 |
January 15, 2013 |
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Dividends
| March 31, 2011 |
April 15, 2011 |
$0.375 |
Eligible |
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| June 30, 2011 |
July 15, 2011 |
$0.375 |
Eligible |
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| September 30, 2011 |
October 15, 2011 |
$0.375 |
Eligible |
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| December 31, 2011 |
January 15, 2012 |
$0.260 |
Eligible |
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| December 31, 2011 |
January 15, 2012 |
$0.115 |
Ineligible |
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| March 31, 2012 |
April 15, 2012 |
$0.375 |
Eligible |
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| June 30, 2012 |
July 15, 2012 |
$0.375 |
Eligible |
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Designation of Eligible Dividends
GENIVAR Inc. hereby declares that its dividends designated above as “Eligible” are eligible dividends as provided under paragraph 89(1) of the Income tax Act and any applicable corresponding provincial or territorial provisions. Dividends designated as “Ineligible” are not. Furthermore, the present notice constitutes a dividend designation in accordance with paragraph 89(14) of the Income tax Act and any applicable corresponding provincial or territorial provisions.
Please consult your tax advisor for any tax question that you may have regarding the designation of dividends.