GlobeNewswire
Black Diamond Group Limited ("Black Diamond" or the "Company") (TSX: BDI), a leading provider of space rental and workforce accommodation solutions, today announced that the Company's Board of Directors has approved the reinstatement of a quarterly dividend of $0.0125 per share, or $0.05 per share on an annualized basis.
The Company has declared a special dividend in the amount of $0.0125 per share, to be paid on or about November 30, 2021 to shareholders of record on November 15, 2021. The Company has also declared a fourth quarter dividend of $0.0125, payable on or about January 14, 2022 to shareholders of record on December 31, 2021. Each of these dividends is an "eligible dividend" for Canadian income tax purposes.
"Over the last several years we have worked to scale and diversify our platform," said Trevor Haynes, CEO of Black Diamond. "We are excited that the successful result of these strategies includes the restart of the dividend. Management is confident in the underlying health of our business which is underpinned by the ongoing growth of our core recurring rental revenue. Our capital allocation strategies will continue to prioritize investment towards organic, and where attractive, inorganic growth, given the strong returns we expect can be generated within our core businesses and markets. We expect this growth and additional scale to allow the Company to increase the dividend over time."