TORONTO, ONTARIO--(Marketwired - March 4, 2014) - GreenStar Agricultural Corporation (TSX VENTURE:GRE) ("GreenStar" or the "Company"), a processer of agricultural products such as canned fruits and vegetables for distribution to international and domestic markets, today announced a dividend of C$0.015 per common share with respect to the first quarter of 2014 which is a 50% increase over the dividend rate paid by the Company during 2013. The dividend record date is March 31, 2014 and the dividend payment date is April 30, 2014. The dividend will be payable in Canadian dollars or, at GreenStar's option, in Chinese Renminbi equivalent for shareholders resident in China based on the Bank of Canada noon rate on the third business day prior to the payable date.
The dividend payable on April 30, 2014 will be the fifth consecutive quarterly dividend paid by GreenStar and the first at the increased quarterly rate of $0.015 per share ($0.06 annualized), which is a 50% increase over the dividend rate paid by the Company during 2013.
Dividend Details:
| • |
Dividend Per Common Share: |
C$0.015 |
| • |
Ex-Dividend Date: |
March 26, 2014 |
| • |
Record Date: |
March 31, 2014 |
| • |
Payable Date: |
April 30, 2014 |
For Canadian resident shareholders, dividends declared are considered as "eligible dividends" for purposes of the dividend tax credit rules contained in the Income Tax Act (Canada).
About GreenStar
GreenStar operates two main divisions, agricultural and food processing. The agricultural division is involved in the cultivation and harvesting of agricultural products such as fresh fruit and vegetables, for sale either directly as fresh fruit and vegetables or canned, and sold overseas and domestically. The food processing division is primarily involved in the processing of canned food, which includes canned tomato paste, canned boiled bamboo shoots, canned oranges, canned peaches and various other types of fruits and vegetables.
GreenStar has been operating for over 19 years. Through the application of science and technology in production, quality control and assurance, and business operations and management, GreenStar has focused on maintaining product and reputational excellence with a high standard of food quality. Key assets include a well established management team, modern production facilities, and a close partnership with local farmers.
GreenStar Agricultural Corp. is listed on the TSX Venture Exchange under the symbol "GRE".
For further information on GreenStar please visit our web site at www.greenstaragricultural.com.
Neither the TSX Venture Exchange nor its Regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute ''forward looking'' statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements may use such words as ''may'', ''will'', ''expect'', ''believe'', ''plan'' and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward looking information in this press release includes managements plan to pay dividend and the expected record date and payable date for the dividend and payment method of dividend. These forward looking statements involve a number of risks and uncertainties. Some of the factors that could cause actual results to differ materially from those expressed in or underlying such forward looking statements are the effects of, as well as changes in: international, national and local business and economic conditions; political or economic instability in the Company's markets; competition; legislation and governmental regulation; and accounting policies and practices. The foregoing list of factors is not exhaustive. Please see the Company's annual MD&A dated April 25, 2013, available on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.