Investing

Canadian Dividend Reduction

  • Last Updated:
  • Mar 23rd, 2024 11:21 am
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Nov 24, 2016
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dernek626 wrote: RioCan Real Estate Investment Trust (TSX:REI.UN) Announces One-third Reduction in Distributions to Unitholders

TORONTO, Dec. 03, 2020 (GLOBE NEWSWIRE) -- Today, RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) announced a reduction of RioCan’s monthly distribution to unitholders from $0.12 per unit to $0.08 per unit, or from $1.44 to $0.96 on an annualized basis. RioCan’s Board of Trustees has determined the reduction is appropriate given ongoing uncertainty as a result of the pandemic. This decrease will be effective for the Trust’s January 2021 distribution, payable in February 2021.

http://www.globenewswire.com/news-relea ... lders.html
Well ****. Hopefully it won't crater on Monday.
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dernek626 wrote: RioCan Real Estate Investment Trust (TSX:REI.UN) Announces One-third Reduction in Distributions to Unitholders

TORONTO, Dec. 03, 2020 (GLOBE NEWSWIRE) -- Today, RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) announced a reduction of RioCan’s monthly distribution to unitholders from $0.12 per unit to $0.08 per unit, or from $1.44 to $0.96 on an annualized basis. RioCan’s Board of Trustees has determined the reduction is appropriate given ongoing uncertainty as a result of the pandemic. This decrease will be effective for the Trust’s January 2021 distribution, payable in February 2021.

http://www.globenewswire.com/news-relea ... lders.html
Ouch...was going to add to this one but had a bad feeling. Ed Sonshine, in the last earnings call, didn't exclude the possibility of a cut. Added to Smartcentres instead...lets hope that one is safe.
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NFI Group Inc. (TSX: NFI) reduced its quarterly dividend, down from 21.3¢ to 5.3¢


Although management continues to believe that the supply and logistics disruptions affecting NFI are temporary, the Board has taken the prudent decision to lower the quarterly dividend amount. The Board has declared a dividend of C$0.0531 per share for the period January 1, 2022 to March 31, 2022 on the common shares of the Company (the “Shares”). The dividend will be paid to holders of record at the close of business on March 31, 2022 and payable on April 15, 2022.
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Sep 11, 2018
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Magellan Aerospace (TSX:MAL) decreases Quarterly Dividend by 24% from $0.105 to $0.08 per quarter

Magellan Aerospace Corporation ("Magellan Aerospace") (TSX: MAL) announced today that its Board of Directors declared a quarterly cash dividend of $0.08 (eight cents) per share on the Corporation’s common shares, a decrease of $0.025 (two and half cents) from the quarterly dividend paid in the fourth quarter of 2021. The ongoing COVID-19 pandemic, continued low production levels largely related to wide-body aircraft, and supply chain and labour constraints negatively impacted the Corporation’s operation in the first quarter of 2022.

https://stockhouse.com/news/press-relea ... y-dividend
https://stockhouse.com/news/press-relea ... al-results
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My heart drops into my stomach when I see this thread getting updated.
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Sep 11, 2018
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First Majestic Silver (TSX:FR) reduces dividend by 24% from $0.0079 USD to $0.006 USD per quarter

Declared a cash dividend payment of $0.006 per common share for the first quarter of 2022 for shareholders of record as of the close of business on May 25, 2022, which will be distributed on or about June 10, 2022, In the first quarter, we faced a number of obstacles and challenges that were outside of our usual control," stated Keith Neumeyer, President & CEO. "Not only was Mexico hit hard with the Omicron COVID-19 variant which significantly reduced personnel and production rates across our operations, we experienced increasing inflationary cost pressure across the operating portfolio for reagents and consumables such as diesel, cyanide and grinding media.

https://stockhouse.com/news/press-relea ... y-dividend
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Sep 11, 2018
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Lassonde Industries Inc. (TSX:LAS.A) reduces quarterly dividend by 20% from $0.88 to $0.70 per quarter

In accordance with the Corporation's dividend policy, the Board of Directors today declared a quarterly dividend of $0.70 per share, payable on June 15, 2022 to all registered holders of Class A and Class B shares on May 26, 2022. On an annualized basis, this dividend represents approximately 25% of the 2021 profit attributable to the Corporation's shareholders. This dividend is an eligible dividend.

https://stockhouse.com/news/press-relea ... 22-results
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Sep 11, 2018
603 posts
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Magellan Aerospace (TSX:MAL) decreases Quarterly Dividend by 38% from $0.08 to $0.05 per quarter (2nd dividend decrease in 2022)

Magellan Aerospace Corporation ("Magellan Aerospace") (TSX: MAL) announced today that its Board of Directors declared a quarterly cash dividend of $0.05 (five cents) per share on the Corporation’s common shares, a decrease of $0.03 (three cents) from the quarterly dividend paid in the first quarter of 2022. The ongoing COVID-19 pandemic, low production levels largely related to wide-body aircraft, inflation, and supply chain and labour constraints continued to negatively impact the Corporation’s operation in the second quarter of 2022.

https://stockhouse.com/news/press-relea ... y-dividend
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Sep 11, 2018
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Pan American Silver Corp (TSX: PAAS) reduces quarterly dividend by 8.3% from $0.12 USD to $0.11 USD per quarter

A cash dividend of $0.11 per common share has been declared, payable on or about September 2, 2022, to holders of record of Pan American's common shares as of the close on August 22, 2022. Aligned with the Company's dividend policy, the dividend is comprised of a base dividend of $0.10 per common share and a variable dividend component of $0.01 per common share. The dividends are eligible dividends for Canadian income tax purposes.

https://stockhouse.com/news/press-relea ... 22-results
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Sep 11, 2018
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Inovalis Real Estate Investment Trust (TSX:INO.UN) reduces monthly distribution by 50% from $0.068750 per unit to $0.034375 per unit

The Board of Trustees has determined to reduce the REIT’s monthly distribution to Unitholders from $0.068750 per unit to $0.034375 per unit, or from $0.8250 to $0.4125 on an annualized basis. The reduction in distributions will normalize the yield on distributions for the current Unit price of $7.20 to 5.7% from the previous yield of 11.5% and will contribute to the objective of reducing the FFO ratio to <95% by the end of 2022. The REIT’s Units are currently trading at a 22% discount to net asset value. The reduction in the distributions will provide the REIT with additional retained cash flow of approximately $13 million per annum. The decrease in distributions will be effective beginning with the REIT's September 2022 distribution

https://stockhouse.com/news/press-relea ... ts-for-the
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Sep 11, 2018
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Magellan Aerospace (TSX:MAL)) reduces quarterly dividend by another 50% (This is the 3rd decrease for 2022)

Magellan Aerospace Corporation ("Magellan Aerospace") (TSX: MAL) announced today that its Board of Directors declared a quarterly cash dividend of $0.025 (two and one-half cents) per share on the Corporation’s common shares, a decrease of $0.025 (two and one-half cents) from the quarterly dividend paid in the third quarter of 2022. The ongoing impact from the COVID-19 pandemic, low production levels largely related to wide-body aircraft, inflation, and supply chain and labour constraints continued to negatively impact the Corporation’s operation in the third quarter of 2022. In light of these operational challenges, the dividend level has been reduced but a dividend was still declared given the Corporation’s strong balance sheet and cash reserves. The Board of Directors of the Corporation continues to review its dividends on a quarterly basis for more visibility of recovery, and ensure that the dividend declared balances the return of capital to shareholders while maintaining adequate financial flexibility and investment in growth initiatives. The dividend is payable on December 30, 2022, to stockholders of record at the close of business on December 15, 2022.

https://stockhouse.com/news/press-relea ... y-dividend
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Sep 11, 2018
603 posts
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Jaguar Mining Inc (TSX:JAG) suspends quarterly dividend of $0.04 CAD

Jaguar has paid quarterly dividend for the past 9 consecutive quarters, which has yielded our shareholders a 5%+ annualized return and has spent over $35 million to identify and develop additional resources. The current global macro economic environment has resulted in a weakening of the gold price and global inflationary pressures on cost have resulted in operating margin compression. The Board and Management have decided to suspend the quarterly dividend for the time being in order to prioritize the maximization of cashflow to invest in growth capital, in particular the advancement of the Faina project and convert our exploration success into value enhancing propositions for our shareholders.

https://stockhouse.com/news/press-relea ... arter-2022
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Sep 11, 2018
603 posts
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Corby Spirit and Wine Limited (TSX:CSW.A) reduces quarterly dividend by 8.3% from $0.24 to $0.22 per quarter

The Corby Board of Directors is pleased to declare a dividend of $0.22 per Voting Class A Common Share and Non-Voting Class B Common Share of the Company. This dividend is payable onDecember 9, 2022 to shareholders of record as at the close of business on November 25 2022. Given the Company's performance the Board of Directors has decided to exercise its discretion to declare a quarterly dividend of $0.22, normalizing to pre-pandemic levels and in excess of the dividend policy of an annual amount equal to the greater of 90% of net earnings per share of the preceding fiscal year ended June 30, 2022 or $0.60 per share.

https://stockhouse.com/news/press-relea ... esults-for
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Sep 11, 2018
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Sylogist Ltd. (TSX: SYZ) reduces quarterly dividend by 92% from $0.125 to $0.01 per quarter

To support the strategic plan, Sylogist's Board of Directors approved a reduced quarterly dividend of $0.01 per share. This makes available approximately $11 million per year of free cash flow, which will allow the Company to self-fund growth initiatives, reduce its debt, and to enhance its balance sheet to create greater capacity for strategic M&A in its core verticals. This quarterly dividend will be payable on December 14, 2022 to shareholders of record as at November 30, 2022, and will be treated as an eligible dividend under the Income Tax Act (Canada).

https://stockhouse.com/news/press-relea ... clares-new
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* NFI'S BOARD OF DIRECTORS HAVE MADE DECISION TO SUSPEND PAYMENT OF DIVIDENDS
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Algonquin Power (TSX: AQN) plans to reduce its quarterly dividend from 18.08¢ to 10.85¢, effective for the first quarter of 2023.
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Sauerkraut wrote: Algonquin Power (TSX: AQN) plans to reduce its quarterly dividend from 18.08¢ to 10.85¢, effective for the first quarter of 2023.
Just to add, this is in USD
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Sep 11, 2018
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abrdn Asia-Pacific Income Fund VCC (TSX:FAP) Announces a 22% Reduction in Monthly Distribution Rate from $0.0225 to $0.0175 per month.

The Company also announces that it will pay a monthly distribution of CAD 1.75 cents per share commencing with the distribution to be declared in February 2023, representing a reduction in distribution from the current rate of CAD 2.25 cents per share per month. The Company intends to maintain this distribution level for at least the next 12 months unless there are significant and unforeseen changes in market conditions or an economic shock

https://stockhouse.com/news/press-relea ... mption-and
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dernek626 wrote: Lassonde Industries Inc. (TSX:LAS.A) reduces quarterly dividend by 20% from $0.88 to $0.70 per quarter

In accordance with the Corporation's dividend policy, the Board of Directors today declared a quarterly dividend of $0.70 per share, payable on June 15, 2022 to all registered holders of Class A and Class B shares on May 26, 2022. On an annualized basis, this dividend represents approximately 25% of the 2021 profit attributable to the Corporation's shareholders. This dividend is an eligible dividend.

https://stockhouse.com/news/press-relea ... 22-results
That's interesting, and though I don't own Lassonde Industries, I continue to like the company. They own Sun-Rype, which is a dominant maker of juices and parent approved fruit snacks.

Cheers,
Doug
Banking & Savings: Tangerine & EQ Bank
Credit Cards: American Express SimplyCash, Rogers World Elite MasterCard, Scotiabank Scene+ Visa (was Tangerine Money-Back World MasterCard)
Investments: Scotia iTRADE | Pension: Municipal Pension Plan
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dernek626 wrote: abrdn Asia-Pacific Income Fund VCC (TSX:FAP) Announces a 22% Reduction in Monthly Distribution Rate from $0.0225 to $0.0175 per month.

The Company also announces that it will pay a monthly distribution of CAD 1.75 cents per share commencing with the distribution to be declared in February 2023, representing a reduction in distribution from the current rate of CAD 2.25 cents per share per month. The Company intends to maintain this distribution level for at least the next 12 months unless there are significant and unforeseen changes in market conditions or an economic shock

https://stockhouse.com/news/press-relea ... mption-and
Bear in mind this is a closed-end mutual fund corporation that trades publicly on the TSX. Such funds' distributions are based on, collectively, the incoming cash flow of their underlying investments. :)

Cheers,
Doug
Banking & Savings: Tangerine & EQ Bank
Credit Cards: American Express SimplyCash, Rogers World Elite MasterCard, Scotiabank Scene+ Visa (was Tangerine Money-Back World MasterCard)
Investments: Scotia iTRADE | Pension: Municipal Pension Plan

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