Softchoice Corporation (“Softchoice” or the “Company”) (TSX: SFTC) today announced that a cash dividend in the amount of C$0.093 per common share of the Company (each, a “Common Share”), has been declared for the period from and including the Company’s initial public offering (“IPO”) closing date of June 1, 2021 to September 30, 2021, payable as of October 15, 2021, to shareholders of record at the close of business on September 30, 2021.
The dividend to which this notice relates are eligible dividends for tax purposes.
As disclosed in the Company’s final initial public offering prospectus dated May 26, 2021, Softchoice anticipates paying quarterly cash dividends estimated to be approximately C$0.07 per Common Share on a go-forward basis. The initial C$0.093 dividend noted above is pro rata covering the approximately four-month period from the IPO closing date of June 1, 2021 to September 30, 2021.
It is expected that future dividend payments will be made to shareholders of record as at the close of business on the last business day of each calendar quarter (September 30, December 31, March 31 and June 30) and that the related payment date will be the fifteenth day of the month following the record date (October 15, January 15, April 15 and July 15), or if such day is not a business day, the immediately preceding business day.
This news release contains “forward-looking information” within the meaning of applicable securities laws in Canada.
Forward-looking information may relate to our future business, financial outlook and anticipated events or results and may include information regarding our financial position, business strategy, growth strategies, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “anticipated”, “an opportunity exists”, “budget”, “scheduled”, “estimates”, “outlook”, “financial outlook”, “forecasts”, “projection”, “prospects”, “strategy”, “intends”, “anticipates”, “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding possible future events or circumstances.
Forward-looking information may include, among other things: (i) the Company’s expectations regarding its financial performance, including among others, net sales, gross profit, expenses, Adjusted EBITDA, Adjusted Free Cash Flow Conversion and operations; (ii) the Company’s business plans and strategies; (iii) the tax treatment of dividends; and (iv) the declaration, rate and payment of future dividends.
Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that we considered appropriate and reasonable as at the date such statements are made, and are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk factors described in our Q2 2021 MD&A and under “Risk Factors” within the Company’s final initial public offering prospectus dated May 26, 2021 (the “Prospectus”). A copy of the Prospectus can be accessed under our profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com and on our website at investors.softchoice.com. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only as at the date made.
Softchoice (TSX: SFTC) is a technology services and solutions provider that equips organizations to be agile and innovative, and for their people to be engaged, connected and creative at work. That means moving them to the cloud, helping them build the workplace of tomorrow, and enabling them to make smarter decisions about their technology portfolio. For more information, please visit www.softchoice.com.