VANCOUVER, BC / ACCESSWIRE / January 11, 2021 / RE Royalties Ltd. (TSXV:RE) ("RE Royalties" or the "Company") is pleased to announce that the Board of Directors of the Company has declared a cash distribution of $0.01 per issued and outstanding common share for the quarter ending December 31, 2020.
The distribution is payable on February 17, 2021 to shareholders of record on January 27, 2021.
The distribution is designated by the Company to be a dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. The cumulative amount of dividends declared for the 2020 fiscal year has been $0.04 per common share.
Bernard Tan, CEO of the Company, commented, "Demand for our royalty financing solutions continues to be strong and we are pleased to provide our shareholders with another dividend. Our diversified royalty portfolio continues to remain resilient and perform as expected, and we look forward to making additional investments to grow this portfolio."
On Behalf of the Board of Directors,
About RE Royalties Ltd.
RE Royalties acquires revenue-based royalties from renewable energy generation facilities by providing a non-dilutive financing solution to privately held and publicly traded renewable energy generation and development companies. The Company currently owns 84 royalties on solar, wind and hydro projects in Canada, Europe and the United States. The Company's business objectives are to provide shareholders with a strong growing yield, robust capital protection, high rate of growth through re-investment and a sustainable investment focus.
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Forward Looking Statements
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company and within the meaning of Canadian securities laws. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events or results and may include statements regarding the Company's financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities. The reader is referred to the Company's most recent filings on SEDAR for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com.
SOURCE: RE Royalties Ltd.