Declares Quarterly Dividend HALIFAX, NS, Aug. 31, 2021 /CNW/ - NexLiving Communities Inc. (TSXV: NXLV) ("NexLiving" or the "Company") announces that the board of directors of the Company has approved and declared a dividend of $0.0005 per common share for the quarter ending September 30, 2021, representing $0.002 per share on an annualized basis. The dividend is payable on September 29, 2021 to shareholders of record on September 9, 2021.
This dividend is designated by the Company as an eligible dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.
The declaration and payment of dividends is at the discretion of the board of directors of the Company and future declaration of dividends will depend on the Company's financial results, cash requirements and other factors deemed relevant by the board of directors of the Company.
About NexLiving Communities Inc.
NexLiving continues to execute its plans to acquire recently built or refurbished, highly leased multi-residential properties in bedroom communities across Canada. The Company aims to satisfy the needs of the newly emerging 55+ resident. The demographic that has changed the world is now changing the way residential rental apartments cater to their requirements. Their desire for community, along with service, quality and convenience has led to the emergence of the 55+ active living segment. Apartments are their next "home", after years of owning they look forward to the carefree lifestyle provided through renting in a community of their peers. NexLiving intends to consolidate this emerging market niche. The Company currently owns 549 units in New Brunswick and Ontario. NexLiving has also developed a robust pipeline of qualified properties for potential acquisition. By screening properties identified to match the criteria set out by the Company (proximity to healthcare, amenities, services and recreation), management has identified a significant pipeline of potential acquisitions for consideration by the Company's Board of Directors.