CALGARY, Dec. 16, 2015 /CNW/ - Genesis Land Development Corp. (TSX: GDC) (the "Corporation" or "Genesis") announces that its Board of Directors has declared a special cash dividend of $0.12 per common share for a total of approximately $5.3 million payable to shareholders of record on December 24, 2015, and will be paid on December 31, 2015. The ex-dividend date for the special dividend is December 22, 2015.

The special dividend is designated as an eligible dividend under the Income Tax Act (Canada).

About Genesis

Genesis is an integrated, award-winning land developer and residential homebuilder, creating innovative and successful communities in the Calgary Metropolitan Area. Genesis is committed to supporting its communities through partnerships like the Genesis Centre of Community Wellness and Genesis Place Recreational Centre. Genesis owns a large portfolio of entitled residential and mixed use land, which is exceptionally well positioned to benefit from the Alberta economy. The Corporation's common shares are listed on the Toronto Stock Exchange (TSX: GDC)

SOURCE Genesis Land Development Corp.