CALGARY, Alberta, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Badger Infrastructure Solutions Ltd. (“Badger”) is pleased to announce its December 2021 cash dividend and announce a change to a quarterly cash dividend in 2022.
December 2021 Cash Dividend
Badger today announced that the directors of Badger declared a cash dividend for the month of December 2021 of $0.0525 per share, which equates to $0.63 per share on an annualized basis. Payment will be made on or about January 17, 2022, to shareholders of record on December 31, 2021.
Badger expects that the dividend will be an “eligible dividend” for Canadian income tax purposes and thus qualify for the enhanced gross-up and tax credit regime for certain shareholders.
Change to Quarterly Cash Dividend
As previously announced on November 4, 2021, Badger’s board of directors approved a change in the frequency of the Company’s cash dividend payment from monthly to quarterly effective with its March 2022 dividend. The March 2022 quarterly cash dividend will be payable on April 15, 2022 to all shareholders of record at the close of business on March 31, 2022.
About Badger Infrastructure Solutions Ltd.
Badger Infrastructure Solutions Ltd. (TSX:BDGI) is North America’s largest provider of non-destructive excavating services. Badger works for contractors and facility owners in a broad range of infrastructure industries. These market segments consist primarily of infrastructure projects in areas such as energy generation, electricity and natural gas transmission networks, roads and highways, telecommunications, water and sewage treatment and general municipal infrastructure. Customers in these segments typically operate near high concentrations of underground power, communication, water, gas and sewer lines, particularly in large urban centers where safety and economic risks are high and therefore non-destructive excavation provides a safe alternative for certain customer excavation requirements. Badger’s key technology is the Badger HydrovacTM, which is used primarily for safe excavation around critical infrastructure and in congested underground conditions. The Badger HydrovacTM uses a pressurized water stream to liquefy the soil cover, which is then removed with a powerful vacuum system and deposited into a storage tank. Badger manufactures and designs its truck-mounted hydrovac units, giving Badger the opportunity to incorporate feedback from its hydrovac operators into its existing and future design and manufacturing processes.
Forfurtherinformation:
Paul Vanderberg, President& Chief Executive Officer
Darren Yaworsky, Senior Vice President, Finance & Chief Financial Officer
Trevor Carson, Vice President, Investor Relations & Corporate Development
Badger Infrastructure Solutions Ltd.
ATCO Centre II
Suite 400, 919 - 11th Avenue SW
Calgary, Alberta T2R 1P3
Telephone (403) 264-8500
Fax (403) 228-9773
Source: Badger Infrastructure Solutions Ltd.
