Automotive Finco Corp. Announces Loan Extension and Quarterly Cash Dividends
TORONTO, May 22, 2025 (GLOBE NEWSWIRE) -- Automotive Finco Corp. (NEX: AFCC-H) (the 'Company') is pleased to announce that it has declared quarterly cash dividends of $0.0513 per common share ($0.205 per common share on an annual basis) with the initial dividend payable on July 31, 2025 to shareholders of record as of June 30, 2025. The dividend is an eligible dividend.
The declaration, timing, amount and payment of future cash dividends are subject to the board of directors' continuing determination that the payment of dividends is in the best interests of the Company and its shareholders and that such dividends comply with all laws and agreements of the Company applicable to the declaration and payment of cash dividends. As such, no assurances can be made that any future dividends will be declared and/or paid.
Additionally, the Company advises that pursuant to the loan agreement made by Automotive Finance Limited Partnership to AA Finance Co LP (the 'Borrower') on November 18, 2024, the Borrower has elected to extend the loan six months with the maturity date now being November 18, 2025.
About Automotive Finco Corp.
Automotive Finco Corp. is a finance company focused exclusively on the auto retail sector. In addition to its interest in Automotive Finance Limited Partnership, the Company may also pursue other direct investments and financing opportunities across the auto retail sector.For further information please refer to the Company's website at www.autofincocorp.com or contact Shannon Penney, Chief Financial Officer, at shannon.penney@rogers.com or (905) 619-4996.Certain disclosures in this release constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, will, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements regarding the Company's dividend policy and the Company's intention to pay a quarterly dividend. In making the forward-looking statements in this news release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including, without limitation, that the Company's financial position will allow it to pay quarterly dividends in accordance with the dividend policy. However, the forward-looking statements in this news release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including without limitation, that a quarterly dividend will not be payable in accordance with the dividend policy or at all; and those applicable risks, uncertainties and factors set forth in the Company's disclosure record under the Company's profile on SEDAR+ at www.sedarplus.ca.There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward- looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
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