The Brick resumes paying dividend
Furniture Today Staff -- Furniture Today, October 29, 2012
EDMONTON, Alberta - The Brick Ltd. will resume paying a quarterly dividend of two cents per common share to shareholders of record on Sept. 28. The holders of some 121.6 million shares will receive a total of some C$2.4 million.
This is the first time the publicly held furniture and appliance retailer has paid a dividend or its equivalent since February 2009. When it went public as an income trust in 2004, it paid unit holders a monthly distribution of 10 cents per unit, which was cut to five cents in 2008.
In early August, the company announced it would pay dividends of two cents per common share quarterly, or eight cents per share annually. However, The Brick's board of directors will continue to declare each payment as it becomes due.
It also announced the dividend will be renewed annually.
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