An anonymous director reports
DECLARATION OF INCREASED DIVIDEND & SPECIAL DIVIDEND
Urbana Corp.'s board of directors has declared a regular dividend of seven cents per share, a 40-per-cent increase from the previous regular annual dividend of five cents per share, on the issued and outstanding common and non-voting Class A shares of Urbana.
In addition, the board also declared a special dividend of three cents per share, for a total dividend of 10 cents per share, on the issued and outstanding common and non-voting Class A shares of Urbana. In the future, special dividends will, at the discretion of the board, be based upon Urbana's annual net asset growth in comparison with the company's long-term average growth.
It is the desire of Urbana's board to increase the dividend in line with the company's progress.
The combined dividend is payable on Jan. 31, 2018, to the shareholders of record at the close of business on Jan. 17, 2018. The ex dividend date is Jan. 16, 2018.
Eligible dividend designation -- pursuant to Subsection 89(14) of the Income Tax Act of Canada (ITA), each dividend paid by Urbana qualifies as and is designated an eligible dividend for Canadian income tax purposes, as defined in Subsection 89(1) of the ITA.
We seek Safe Harbor.
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