
Exchange Income Corporation Announces August 2025 Dividend
Eligible shareholders have the opportunity to reinvest their dividends in accordance with the Corporation's dividend reinvestment and share purchase plan. Additional details can be found in the investor information section of the Corporation's website, www.ExchangeIncomeCorp.ca.
The dividend is designated as an 'eligible' dividend under the Income Tax Act (Canada) and any corresponding provincial legislation. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits which reduce income tax otherwise payable.
About Exchange Income Corporation
Exchange Income Corporation is a diversified acquisition-oriented company, focused in two segments: aerospace & aviation and manufacturing. The Corporation uses a disciplined acquisition strategy to identify already profitable, well-established companies that have strong management teams, generate steady cash flow, operate in niche markets and have opportunities for organic growth. For more information on the Corporation, please visit www.ExchangeIncomeCorp.ca. Additional information relating to the Corporation, including all public filings, is available on SEDAR+ ( www.sedarplus.ca).
Caution concerning forward-looking statements
The statements contained in this news release that are forward-looking are based on current expectations and are subject to a number of uncertainties and risks, and actual results may differ materially. Many of these forward-looking statements may be identified by looking for words such as 'believes', 'expects', 'will', 'may', 'intends', 'projects', 'anticipates', 'plans', 'estimates', 'continues' and similar words or the negative thereof. These uncertainties and risks include, but are not limited to, external risks, operational risks, financial risks and human capital risks. External risks include, but are not limited to, risks associated with economic and geopolitical conditions, competition, government funding for Indigenous health care, access to capital, market trends and innovation, general uninsured loss, climate, acts of terrorism, armed conflict, labour and/or social unrest, pandemic, level and timing of government spending, government-funded programs and environmental, social and governance. Operational risks include, but are not limited to, significant contracts and customers, operational performance and growth, laws, regulations and standards, acquisitions (including receiving any requisite regulatory approvals thereof), concentration and diversification, maintenance costs, access to parts and relationships with key suppliers, casualty losses, environmental liability, dependence on information systems and technology, cybersecurity, international operations, fluctuations in sales prices of aviation related assets, fluctuations in purchase prices of aviation related assets, warranty, performance guarantees, global offset and intellectual property risks. Financial risks include, but are not limited to, availability of future financing, income tax matters, commodity risk, foreign exchange, interest rates, credit facility and the trust indentures, dividends, unpredictability and volatility of securities pricing, dilution and other credit risk. Human capital risks include, but are not limited to, reliance on key personnel, employees and labour relations and conflicts of interest.
Except as required by Canadian Securities Law, Exchange Income Corporation does not undertake to update any forward-looking statements; such statements speak only as of the date made. Further information about these and other risks and uncertainties can be found in the disclosure documents filed by Exchange Income Corporation with the securities regulatory authorities, available at www.sedarplus.ca.
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Can the ZEV mandate survive political pressure and industry objections?
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On Thursday, Poilievre announced that Conservatives would be launching a " nationwide campaign" to stop the mandate. The Conservative leader is smart enough to know he is pushing against a policy that is already under pressure. But that may set up the ZEV mandate as a test of the ability of Mark Carney's government to defend and meaningfully advance climate policy — a test Justin Trudeau's government arguably failed on the carbon tax. Whether or not the Charter can be read to give Canadians the "right" to own an internal-combustion engine, it's not quite the case that gas-powered vehicles will be made illegal. More specifically, the ZEV mandate establishes a series of escalating light-duty vehicle sales targets for auto manufacturers and importers, starting at 20 per cent in 2026 and reaching 100 per cent in 2035. Companies have some flexibility if they are unable or unwilling to meet the annual target — they can buy credits from other sellers or invest in charging infrastructure. The debate over EV policy Advocates of action to fight climate change have supported mandates as a way to guarantee a predictable supply of EVs and accelerate adoption — British Columbia and Quebec have each had ZEV mandates for several years. But North American automakers have bristled at the prospect of additional regulation and would prefer to stick with less-prescriptive regulations aimed at emissions from passenger vehicles. Though those "tailpipe" standards have typically been harmonized with the United States and the Trump administration is currently intent on repealing its regulations. Automakers have called on Carney's government to change or scrap the mandate. Against the backdrop of a trade war, the government seems willing to hear them out — Industry Minister Mélanie Joly told the Globe and Mail in July that the government was working with industry to "find what would be that right level." WATCH | Automakers want EV mandate removed: Automakers push Ottawa to drop EV mandates 1 month ago In arguing against the mandate, the auto industry also now points to a recent slump in EV sales in Canada. But auto executives themselves have said the recent slump is a " direct response" to changes in the rebates offered by federal and provincial governments. The federal government's EV incentive ended in January, Quebec's incentive was temporarily paused in February and British Columbia halted its rebate program in May. The Carney government has said it's working on a new rebate, but that promise might be pushing prospective buyers to wait. Joanna Kyriazis, director of public affairs at Clean Energy Canada, says the Liberal government should broadly stay the course with its mandate, but there are compromises it could make. The Liberals could, for instance, build in additional flexabilities or adjust some of the near-term targets. It could even adjust the ultimate target of 2035. "If this idea of a 100 per cent sales target is really polarizing and really scary to Canadians, then bring it down to 95 per cent — show that there's room for the niche applications or niche situations where in 10 years EVs still might not work," Kyriazis says, though adding that she thinks the technology will have advanced enough by then that such an allowance won't be necessary. Such changes might have the effect of watering down the initial policy without deviating from the larger goal — significantly increasing the use of non-gas-powered vehicles for the sake of reducing the greenhouse gas emissions that cause climate change. "[The current sales targets are] in line with where the rest of the world is going," Kyriazis argues. "North America is on a little detour right now, but in the rest of the world, EV sales keep on rising." 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