An anonymous director reports
CALLIDUS CAPITAL CORPORATION DECLARES MONTHLY DIVIDEND
Callidus Capital Corp., in accordance with its previously announced dividend policy, will pay a monthly eligible dividend of 10 cents per common share of the company to holders of common shares of record on April 30, 2018. The dividend will be paid on or before May 20, 2018.
The company also offers a dividend reinvestment plan, which is eligible to holders of common shares and provides a convenient means to purchase additional common shares by reinvesting cash dividends without having to pay commissions, service charges or brokerage fees.
Common shares acquired under the plan will be automatically enrolled in the plan. Shareholders who hold their common shares through a broker, financial institution or other nominee must enroll for dividend reinvestment through their nominee holder.
The company's major shareholders, the Catalyst Capital Group Inc. and Braslyn Ltd., continue to exercise their right to participate in the plan. As a result, in excess of 80 per cent of the amount of the monthly dividend will be distributed in stock, with the result that the cash payment is anticipated to be less than $1.0-million.
The full text of the plan can be obtained on the company's website.
For purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation, all dividends paid by Callidus on its common shares in the calendar year are designated as eligible dividends.
About Callidus Capital Corp.
Established in 2003, Callidus Capital is a Canadian company that specializes in innovative and creative financing solutions for companies that are unable to obtain adequate financing from conventional lending institutions. Unlike conventional lending institutions which demand a long list of covenants and make credit decisions based on cash flow and projections, Callidus credit facilities have few, if any, covenants and are based on the value of the company's assets, its enterprise value and borrowing needs. Callidus employs a proprietary system of monitoring collateral and exercising control over the cash inflow and outflows of each borrower, enabling Callidus to very effectively manage any risk of loss.
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