Mosaic Capital Corporation Announces Dividend and Change to Common Share Dividend Declaration and Paadmin
Mosaic Capital Corporation Announces Dividend and Change to Common Share Dividend Declaration and Payment Dates
Calgary, Alberta CANADA, November 18, 2013 /FSC/ – Mosaic Capital Corporation (M – TSX Venture, M.PR.A – TSX Venture), (“Mosaic”), announces that its Board of Directors has approved a change to the current common share dividend declaration and payment dates. This is being done to align the dividend declaration dates with the release of Mosaic’s quarterly financial results. This change moves the dates forward by one month and will be implemented beginning in 2014 so that the first dividend declaration for 2014 will occur in February for the three-month period December 2013, January and February 2014. Subsequent dividend declarations will occur every third month thereafter. As a result of this change, the board of directors have declared a normalization dividend of $0.02 per common share for the month of November (equivalent to dividends for one month at the current quarterly rate of $0.06 per common share). This dividend is to be made payable on December 16, 2013 to holders of common shares of record as of November 29, 2013.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is an investment company based in western Canada that owns a portfolio of established businesses that have a history of generating 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.
We strongly encourage the management teams of our operating companies to continue to look for acquisitions that would facilitate their entry into new markets or increase their product or service offerings. We are actively looking for businesses in a variety of industries that fit our investment model.
Our preferred acquisition criteria for such transactions include the following:
. Demonstrated history of growing sustainable cash flow and operating in an industry which we believe has good growth potential
. A capable and experienced management team that is growth oriented
. The business should have a significant market share in its business area
. A unique competitive advantage
. Ability to grow the business without significant amounts of new capital
FOR FURTHER INFORMATION PLEASE CONTACT:
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.
To view the press release as a PDF file, please click on the following link:
Source: Mosaic Capital Corporation (TSXV: M – TSXV: M.PR.A)
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Posted: November 18th, 2013 under FSCWIRE.