"We have seen significant growth in our cash flows including, and most importantly, on a per share basis. This growth was driven by the four acquisitions we completed in 2023 and the strength of our 2023 operating results.
As we are committed to sharing this success with our shareholders, we are delighted to announce our third dividend increase in the last twelve months. The increase in the monthly dividend to
The actions being taken by our team of leaders in place at our subsidiaries and head office to drive continued growth in profitability and market share, along with our strong balance sheet and growing pipeline of potential targets, position us to continue our trajectory of growth, all while having the flexibility to pursue the opportunities and address the challenges presented by near-term market conditions."
The
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 and a copy of the DRIP is filed under the Corporation's profile on SEDAR+ at www.sedarplus.ca.
The Corporation also announced that its board of directors has authorized for issuance under the DRIP an additional 600,000 common shares. The increase in authorized DRIP shares was necessary due to strong shareholder participation in the DRIP which resulted in the issuance of a total of 760,422 common shares out of the 800,000 common shares authorized under the DRIP since its inception in 2018, excluding common shares issuable under the DRIP in respect of the dividend payable on
The Corporation is also pleased to announce that 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 947,168 common shares, representing 5% of the 18,943,364 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
Purchases of common shares under the NCIB may be made during the period commencing on
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
For more information on Decisive, or to sign up for email notifications of Corporation press releases, please visit www.decisivedividend.com.
Neither the
This press release contains forward-looking statements. These statements relate to the monthly dividend policy adopted by the directors of the Corporation, and the business strategy, plans and objectives of the Corporation, including growth expectations of its existing operations as well as through acquisitions. The declaration and payment of dividends are subject to a number of risks, uncertainties and assumptions, including without limitation the financial performance and condition of the Corporation, the satisfaction of covenants under the Corporation's credit facility and solvency tests under applicable corporate law. There can be no assurance that the directors of the Corporation will declare or pay any dividends in the future or, if dividends are declared and paid, there can be no assurance as to the frequency or amount of such dividends. Forward-looking statements are necessarily based upon a number of expectations and assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are beyond the Corporation's control and many of which are subject to change. Readers are cautioned to not place undue reliance on forward-looking statements which only speak as to the date they are made. Although management believes that the expectations and assumptions underlying such forward-looking statements are reasonable, there can be no assurance that such expectations or assumptions will prove to be correct. A number of factors could cause actual future results, performance, achievements and developments of the Corporation to differ materially from anticipated results, performance, achievements and developments expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information.
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