The Board of directors of Dynacor Group Inc. (TSX: DNG) has declared a 20% rise in the Corporation’s monthly dividend, raising it from C$0.83 to C$1.00 per common share, beginning January 2023.
This increase will be Dynacor’s fourth dividend increment since the Corporation commenced making payments to shareholders in October 2018. Jean Martineau, President and CEO expressed, “Dynacor is devoted to offering returns to its shareholders and preserving a sound financial standing. The four dividend increases within four years indicate the trust management has in Dynacor’s capacity to bring in strong profits and increased cash flows. Today’s announcement reinforces our commitment to our shareholders and shows Dynacor’s steadiness and development capacity as we progress.”
The Corporation’s dividend for each month is suitable for Canadian taxation purposes. The Board will consider the financial performance, capital demands, possibilities, and other factors when deciding to disburse or increase the dividend.