TORONTO, Nov. 17, 2020 /CNW/ - Corus Entertainment Inc. (TSX: CJR.B) announced today that its Board of Directors has declared quarterly dividends of $0.06 per Class B Share and $0.05875 per Class A Share payable on December 30, 2020, to shareholders of record at the close of business on December 15, 2020.
The foregoing dividends are designated as "eligible" dividends for the purpose of the Income Tax Act (Canada) and any similar provincial legislation.
Corus' Board of Directors reviews the dividend on a quarterly basis. Shareholders are entitled to receive dividends only when any such dividends are declared by Corus' Board of Directors and there is no entitlement to any dividend prior thereto.
Registered shareholders who are residents of Canada and who are not currently participating in Corus' Dividend Reinvestment Plan ("the Plan") may elect to participate in the Plan through the completion of an enrollment form which can be obtained from the Company's plan administrator, AST Trust Company (Canada), on their website at www.astfinancial.com/ca-en or by calling 1.800.387.0825. The Plan allows eligible holders of Class A Shares and Class B Shares to acquire additional Class B Shares through reinvestment of the cash dividends paid on their respective shareholdings. Non-registered beneficial shareholders who are residents of Canada and who wish to join the Plan should consult their broker, financial institution or other intermediary through which they hold Class A Shares or Class B Shares.
Corus' Board of Directors confirms that the Company will distribute shares purchased on the open market at no discount from the average market price to the Plan participants of record, as determined pursuant to the terms of the Plan.
There were 3,412,392 Class A Voting Shares and 204,954,666 Class B Non-Voting Shares outstanding on October 31, 2020.
Corus Entertainment Inc. reports in Canadian dollars.