Common Dividend Policy
The declaration and payment of dividends on the Company’s common shares and the amount thereof are at the discretion of the Board of Directors which takes into account the Company’s financial results, capital requirements, available cash flow, future prospects of the Company’s business and other factors considered relevant from time to time.
The dividend policy of the Company undergoes a periodic review by the Board of Directors and is subject to change at any time depending upon the earnings of the Company, it’s financial requirements and other factors existing at the time. In September 2014, the Board of Directors approved a dividend policy for the payment of a regular quarterly dividend. It is anticipated that dividends will be paid in October, December, March and June of each fiscal year(1).
Designation of Dividends
Vecima Networks Inc. for the purposes of the Income Tax Act and any similar provincial legislation, advises that its dividends indicated as “Ineligible” are not eligible dividends.
History of Dividends/Distributions Paid or Declared
|Record Date||Payment Date||Type||Amount||Status|
|February 27, 2017||March 20, 2017||Regular||$0.055||Ineligible|
|November 24, 2016||December 20, 2016||Regular||$0.055||Ineligible|
|October 12, 2016||November 2, 2016||Regular||$0.055||Ineligible|
|May 26, 2016||June 20, 2016||Regular||$0.055||Ineligible|
|February 25, 2016||March 21, 2016||Regular||$0.055||Ineligible|
|November 27, 2015||December 21, 2015||Regular||$0.055||Ineligible|
|October 9, 2015||October 30, 2015||Regular||$0.055||Ineligible|
|May 26, 2015||June 19, 2015||Regular||$0.045||Ineligible|
|February 24, 2015||March 20, 2015||Regular||$0.045||Ineligible|
|November 26, 2014||December 20, 2014||Regular||$0.045||Ineligible|
|October 6, 2014||October 28, 2014||Regular||$0.045||Ineligible|
|December 24, 2013||December 31, 2013||Special||$0.54||Return of Capital|
|December 6, 2013||December 31, 2013||Special||$0.46||Ineligible|
|March 21, 2013||March 27, 2013||Special||$1.00||Return of Capital|
(1)The gap in dividend payment between June and October is due to the timing of the release of the Company’s annual financial statements which are due 90 days from year end. Quarterly financials are due 45 days from each quarter end.