CALGARY, Oct. 4, 2019 /CNW/ - Mosaic Capital
Corporation ("Mosaic") (TSX-V Symbols: M and
M.DB) is pleased to announce that its board of directors has
approved a monthly dividend on Mosaic's common shares of
$0.035 per share (or $0.42 per share on an annualized basis). This
dividend will be paid October 31,
2019 to holders of record on October
15, 2019. The objective of paying a dividend is to allow
common shareholders of Mosaic to participate in our free cash flow
while ensuring Mosaic retains sufficient capital to preserve its
strong balance sheet, continue its acquisition strategy and
fund organic growth.
Mosaic's dividend on its common shares is designated to be an eligible dividend for purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit
applies to eligible dividends paid to Canadian
residents.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Mosaic's strategy is to create long-term value for its shareholders through accretive acquisitions, long-term portfolio
ownership,
sustained cash flows and organic portfolio growth. Mosaic achieves its objectives by maintaining financial discipline, acquiring businesses at attractive valuations, performing extensive acquisition due diligence, utilizing optimal transaction structuring and working closely with subsidiary businesses after
acquisition.
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.
SOURCE Mosaic Capital Corporation
