StorageVault Commences Quarterly Dividend for Q2 2016
June 16, 2016
CALGARY, ALBERTA--(Marketwired - June 16, 2016) - STORAGEVAULT CANADA INC. ("StorageVault" or the "Corporation") (TSX VENTURE:SVI) announced today that, in connection with the Dividend Policy and the dividend reinvestment plan ("DRIP") previously announced on April 18, 2016, the first quarterly dividend of $0.0025 per common share will be payable on July 15, 2016 to shareholders of record on June 30, 2016, with an ex-dividend date of June 28, 2016. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes.
Pursuant to the DRIP, eligible registered holders of a minimum of 10,000 common shares of StorageVault ("Common Shares") may elect to automatically reinvest their cash dividends payable in respect to the Common Shares to acquire additional Common Shares, which will be issued from treasury or purchased on the open market on the applicable dividend payment date. If Common Shares are issued from treasury, the price at which such Common Shares are issued will be the volume weighted trading price of the Corporation's common shares over the five business days immediately preceding such dividend payment date less the applicable discount. The Corporation has determined to set the initial discount for purchases under the DRIP at 3%. The Corporation may, subject to the terms of the DRIP, alter or eliminate any discount at any time.
Registered shareholders may enroll in the DRIP by completing an enrolment form ("Enrolment Form") and submitting the completed form to Equity Financial Trust Company (the "Plan Agent"), at the address set out in the DRIP. A completed Enrolment Form must be provided to the Plan Agent no later than 4:00 pm EST on June 23, 2015 to reinvest the Q2 2016 dividend.
The full text of the DRIP and Enrolment Form are available under the Corporation's profile on SEDAR. The DRIP is subject to certain limitations and restrictions and interested parties are encouraged to review the full text of the DRIP before making any decisions regarding their participation in the DRIP. Beneficial shareholders who hold their Common Shares through a nominee and who wish to participate in the DRIP should contact their nominee to enquire about enrollment.
About StorageVault Canada Inc.
StorageVault owns and operates storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
StorageVault Canada Inc.
Mr. Steven Scott or Mr. Iqbal Khan