VANCOUVER, BC / ACCESSWIRE / November 2, 2021 / RE Royalties Ltd. (TSXV:RE) ("RE Royalties" or the "Company") is pleased to announce that the Board of Directors of the Company has declared a cash distribution of $0.01 per issued and outstanding common share for the quarter ending September 30, 2021.
The distribution is payable on December 8, 2021, to shareholders of record on November 17, 2021. The distribution is designated by the Company to be a dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. The cumulative amount of dividends declared for the 2021 fiscal year has been $0.03 per common share.
Bernard Tan, CEO of the Company, commented, "We are very pleased to announce another dividend payment as we continue to grow our diversified renewable energy royalty portfolio. With the successful completion of our transactions with Switch Power in Ontario and Teichos Energy in Philadelphia, we are committed to growing our royalty portfolio."
About RE Royalties Ltd.
RE Royalties acquires revenue-based royalties from renewable energy generation facilities by providing a non-dilutive financing solution to privately held and publicly traded renewable energy generation and development companies. RE Royalties is the first to apply this proven business model to the renewable energy sector. The Company currently owns 98 royalties on solar, wind and hydro projects in Canada, Europe and the United States. The Company's business objectives are to provide shareholders with a strong growing yield, robust capital protection, high rate of growth through re-investment and a sustainable investment focus.
https://www.accesswire.com/670672/RE-Royalties-Declares-Quarterly-Dividend-Payment-To-Shareholders