2012-10-24 01:42:19 -
Calgary, Alberta CANADA, October 23, 2012 /FSC/ - Mosaic Capital Corporation (M - TSX Venture, M.PR.A - TSX Venture), ("Mosaic") is pleased to announce that its Board of Directors has approved a quarterly dividend on Mosaic's common shares (TSX-V Symbol: M) of $0.03 per share (or $0.12 per share on an annualized basis). This dividend will be paid November 15, 2012 to holders of record on October 31, 2012. The objective of paying a dividend is to allow common shareholders of Mosaic to participate in our free cash flow while ensuring Mosaic retains sufficient capital to preserve its strong balance sheet, continue its acquisition strategy and fund organic growth.
Mosaic's dividend on its common shares is designated to be an
eligible dividend for purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is an investment company based in western Canada that owns a portfolio of established businesses with unique competitive advantages that have a history of generating strong sustainable cash flow from their operations. Mosaic's objective is to create long term value for our shareholders and business partners and to have that reflected in our share price. We believe that this is achieved by growing free cash flow per share and retained earnings. We do this by acquiring businesses that we understand at attractive prices and we manage our risk through extensive due diligence, creative transaction structuring and working closely with our businesses after acquisition.
FOR FURTHER INFORMATION PLEASE CONTACT:
Vice President, Investor Relations
Mosaic Capital Corporation
400, 2424 - 4th Street SW
Calgary, AB T2S 2T4
Tel: (403) 270-4658
Neither the 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.
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Source: Mosaic Capital Corporation (TSXV: M - TSXV: M.PR.A)
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