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Homburg Invest Inc. announces dividend policy

  • Published: 2009-03-02

Shares issued: Class A - 16,790,018 Class B - 3,150,239
 
Halifax, Nova Scotia, March 2, 2009 (TSX: HII.A & HII.B and NYSE Euronext Amsterdam: HII) - Mr. Richard Homburg, Chairman and CEO of Homburg Invest Inc. ("HII" or "Homburg Invest") is pleased to announce that at a Board of Directors Meeting held Friday, February 27, 2009 the Directors discussed the Company's current dividend policy.  As a result and until further notice:
 
a) Dividends when considered and if thought fit to approve and declare by the Board of Directors will be paid annually in July; and
 
b) Dividends will be paid in cash.
 
As a result of the foregoing, the Board of Directors has passed a resolution authorizing management to take all steps necessary to close out the existing Dividend Reinvestment Plan.  This closing out will result in CIBC Mellon Trust Company forwarding share certificates to all shareholders currently participating in the Plan.
 
Homburg Invest, with its head office in Halifax, Nova Scotia, is an international real estate investment and development company that owns a diversified portfolio of quality real estate, including office, retail, industrial and residential apartment and townhouse properties in Canada, Europe and the United States. Homburg Invest also owns land assets for development in Calgary and Edmonton, Alberta; Montreal, Quebec; and Charlottetown, Prince Edward Island. In 2007, Homburg Invest completed significant acquisitions totalling over approximately CAD$ 1.1 billion and as of September 30, 2008 has assets of over CAD$ 4.0 billion with an approximate aggregate of 20.2 million square feet of gross leasable area.
 
-30-
 
 
For further information, please contact:
 
Mr. Richard Homburg,
Chairman and CEO
Homburg Invest Inc.
902-468-3395
 
or
 
Richard Stolle
President and COO
Homburg Invest Inc.
011 31 20 573 3855
 
 
This news release may contain statements which by their nature are forward looking and express Homburg Invest's beliefs, expectations or intentions regarding future performance, future events or trends. Forward looking statements are made by Homburg Invest in good faith, given management's expectations or intentions however, they are subject to market conditions, acquisitions, occupancy rates, capital requirements, sources of funds, expense levels, operating performance and other matters. Therefore, forward looking statements contain assumptions which are subject to various factors including: unknown risks and uncertainties: general economic conditions; local market factors; performance of other third parties; environmental concerns; and interest rates, any of which may cause actual results to differ from Homburg Invest's good faith beliefs, expectations or intentions which have been expressed in or may be implied from this news release. Therefore, forward looking statements are not guarantees of future performance and are subject to known and unknown risks. Information and statements in this document, other than historical information, should be considered forward-looking and reflect management's current views of future events and financial performance that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially include, but are not limited to, the following: general economic conditions and developments within the real estate industry, competition and the management of growth. The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
 

Canada

32 Akerley Blvd
Dartmouth, Nova Scotia B3B 1N1
Canada

(+1) 902.468.4231ir@hinvest.ca