TORONTO, May 3, 2012 /CNW/ - The Board of Directors of Home Capital Group Inc. (TSX: HCG) has approved the payment of a quarterly dividend of 22.0 cents per share on the outstanding Common Shares of the Company. This represents a 2.0 cent per share increase in its quarterly dividend and is equivalent to an annual dividend of 88.0 cents per share. The dividend increase reflects the continuing success of Home Capital's operating subsidiaries, Home Trust Company and PSiGate. The dividend is payable on June 1, 2012 to shareholders of record at the close of business on May 15, 2012.
Gerald M. Soloway, CEO of Home Capital, stated, "This represents an increase of 10% in the quarterly dividend and is the 14th increase in the last 8 years, reflecting Home Capital's strong growth, profitability and commitment to enhancing long-term shareholder value."
The above-mentioned dividend on the Common Shares is designated as an "eligible" dividend for the purposes of the Income Tax Act (Canada) and any similar provincial legislation.
Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering deposit, residential and non-residential mortgage lending, securitization of insured residential first mortgage products, consumer lending, Visa and payment card services. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia and Quebec.
Gerald M. Soloway, CEO, or
Martin Reid, President