High River, Alberta – The Western Investment Company of Canada Limited (“WICC” or “Western”) (TSXV:WI) announced today that its board declared Western’s first dividend of $0.005 per share on WICC’s outstanding common shares. Western’s intention is to declare a dividend annually. The dividend will be payable on July 29, 2022, to shareholders of record at the close of business on July 15, 2022. This dividend equates to an annual yield of 1.39% based on the closing price of Western’s common shares earlier today.
WICC CEO Scott Tannas commented:
“Western was established with a plan to build a portfolio of western based companies and use our skills and resources to help them grow. It continues to be our intention to use our capital to reinvest in our portfolio companies, make additional acquisitions, and pay dividends. We have demonstrated our ability to support and nurture our companies through turbulent times and back to growth and profitability. We know from our net asset value estimates that we have built significant value over the past years, and we expect to continue to do so. Today we take the first step, albeit modest, in providing our shareholders with a cash return on their investment. 2022 marks a turning point for Western, and we are confident that we can sustain and grow a dividend to shareholders in the years to come.”
About The Western Investment Company of Canada
Western is a unique publicly traded, private equity company founded by a group of successful Western Canadian business people, and dedicated to building and maintaining ownership in successful Western Canadian companies, and helping them to grow. The company’s shares are traded on the TSX Venture Exchange under the symbol WI. For more information on the company, please visit its website at www.winv.ca.
The Western Investment Company of Canada Limited
President and Chief Executive Officer
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to future plans, acquisitions, financings and earnings. Statements containing the words: ‘believes’, ‘intends’, ‘expects’, ‘plans’, ‘seeks’ and ‘anticipates’ and any other words of similar meaning are forward-looking. All statements included herein involve various risks and uncertainties because they relate to future events and circumstances beyond Western’s control. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Western’s disclosure documents on the SEDAR website at www.sedar.com. Any forward looking statements are made as of the date of this news release and Western does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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