Latest news with #Chorus'
Cision Canada
25-06-2025
- Business
- Cision Canada
Chorus Aviation Inc. Initiates Quarterly Dividend
HALIFAX, NS, June 25, 2025 /CNW/ - Chorus Aviation Inc. (TSX: CHR) (" Chorus") today announced the declaration of a cash dividend of $0.08 per Class A Variable Voting and Class B Voting Share (collectively, the " Shares"), payable on August 15, 2025 to shareholders of record at the close of business on July 31, 2025. Chorus intends to declare future quarterly cash dividends in the amount of $0.08 per Share concurrent with the announcement of its quarterly earnings reports, starting with the 2025 third quarter earnings release currently scheduled to occur on November 6, 2025. Colin Copp, President and Chief Executive Officer, Chorus stated: "Today's announcement of a dividend is a further concrete step we have taken to enhance shareholder value – in addition to debt reduction and share buybacks – since the sale of our Regional Aircraft Leasing business last year." "Management is focused on growing Chorus' earnings and cash flows over time and aims to distribute approximately 25% of Chorus' Free Cash Flow 1 after debt repayments as dividends to shareholders. This reflects our commitment to delivering value to our shareholders while investing in future growth," said Mr. Copp. "Our first-quarter Leverage Ratio 1 of 1.6x is well within our target range of 1.0x to 2.0x, and we have $200 million in available credit facilities. While returning capital to shareholders, we are now also actively pursuing growth opportunities and positioning Chorus for the future," Mr. Copp concluded. This dividend is an eligible dividend in Canada. It may also be considered a qualified dividend from a U.S. tax perspective; however, shareholders should consult their tax advisor to confirm the treatment of the dividend under U.S. tax laws. Forward-Looking Information This news release contains forward-looking information and statements within the meaning of applicable securities laws (collectively, " forward-looking information"). Forward-looking information may be identified by the use of terms and phrases such as "anticipate", "believe", "can", "could", "estimate", "expect", "future", "intend", "make", "may", "plan", "potential", "predict", "project", "will", "would", and similar terms and phrases, including negative versions thereof and other similar expressions. Statements concerning Chorus' intention to declare future dividends and the amount and timing of those dividends, and Chorus' intention and ability grow future earnings and cash flows constitute forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those indicated in the forward-looking information. In particular, any determination to declare and pay dividends in future is at the discretion of Chorus' board of directors and will depend on many factors, including, among others, consideration of Chorus' results of operations and financial condition, profitability, cash flow and other factors as the directors of Chorus consider appropriate from time to time, including compliance with covenants contained in Chorus debt agreements. Actual results could differ materially from those described in forward-looking information due to known or unknown risks, including, but not limited to, the considerations described above, the continuing availability of credit facilities, Chorus' dependence on the Capacity Purchase Agreement with Air Canada, as well as the risk factors described in Chorus' public disclosure record available under Chorus' profile on SEDAR+ at The forward-looking information contained in this news release represents Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, subsequent events or otherwise, except as required by applicable securities laws. Readers are cautioned that the foregoing factors and risks are not exhaustive. About Chorus Aviation Inc. Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus' subsidiaries provide services that encompass every stage of an aircraft's lifecycle, including: contract flying, aircraft refurbishment, engineering, modification, repurposing and transition; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training. Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. Chorus' 6.00% Convertible Senior Unsecured Debentures due June 30, 2026 and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbols ' and ' respectively. For further information on Chorus, please visit w
Yahoo
25-06-2025
- Business
- Yahoo
Chorus Aviation Inc. Initiates Quarterly Dividend
HALIFAX, NS, June 25, 2025 /CNW/ - Chorus Aviation Inc. (TSX: CHR) ("Chorus") today announced the declaration of a cash dividend of $0.08 per Class A Variable Voting and Class B Voting Share (collectively, the "Shares"), payable on August 15, 2025 to shareholders of record at the close of business on July 31, 2025. Chorus intends to declare future quarterly cash dividends in the amount of $0.08 per Share concurrent with the announcement of its quarterly earnings reports, starting with the 2025 third quarter earnings release currently scheduled to occur on November 6, 2025. Colin Copp, President and Chief Executive Officer, Chorus stated: "Today's announcement of a dividend is a further concrete step we have taken to enhance shareholder value – in addition to debt reduction and share buybacks – since the sale of our Regional Aircraft Leasing business last year." "Management is focused on growing Chorus' earnings and cash flows over time and aims to distribute approximately 25% of Chorus' Free Cash Flow1 after debt repayments as dividends to shareholders. This reflects our commitment to delivering value to our shareholders while investing in future growth," said Mr. Copp. "Our first-quarter Leverage Ratio1 of 1.6x is well within our target range of 1.0x to 2.0x, and we have $200 million in available credit facilities. While returning capital to shareholders, we are now also actively pursuing growth opportunities and positioning Chorus for the future," Mr. Copp concluded. This dividend is an eligible dividend in Canada. It may also be considered a qualified dividend from a U.S. tax perspective; however, shareholders should consult their tax advisor to confirm the treatment of the dividend under U.S. tax laws. Forward-Looking Information This news release contains forward-looking information and statements within the meaning of applicable securities laws (collectively, "forward-looking information"). Forward-looking information may be identified by the use of terms and phrases such as "anticipate", "believe", "can", "could", "estimate", "expect", "future", "intend", "make", "may", "plan", "potential", "predict", "project", "will", "would", and similar terms and phrases, including negative versions thereof and other similar expressions. Statements concerning Chorus' intention to declare future dividends and the amount and timing of those dividends, and Chorus' intention and ability grow future earnings and cash flows constitute forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those indicated in the forward-looking information. In particular, any determination to declare and pay dividends in future is at the discretion of Chorus' board of directors and will depend on many factors, including, among others, consideration of Chorus' results of operations and financial condition, profitability, cash flow and other factors as the directors of Chorus consider appropriate from time to time, including compliance with covenants contained in Chorus debt agreements. Actual results could differ materially from those described in forward-looking information due to known or unknown risks, including, but not limited to, the considerations described above, the continuing availability of credit facilities, Chorus' dependence on the Capacity Purchase Agreement with Air Canada, as well as the risk factors described in Chorus' public disclosure record available under Chorus' profile on SEDAR+ at The forward-looking information contained in this news release represents Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, subsequent events or otherwise, except as required by applicable securities laws. Readers are cautioned that the foregoing factors and risks are not exhaustive. About Chorus Aviation Inc. Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus' subsidiaries provide services that encompass every stage of an aircraft's lifecycle, including: contract flying, aircraft refurbishment, engineering, modification, repurposing and transition; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training. Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. Chorus' 6.00% Convertible Senior Unsecured Debentures due June 30, 2026 and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbols ' and ' respectively. For further information on Chorus, please visit Free Cash Flow and Leverage Ratio are non-GAAP financial measures or ratios that are not recognized measures for financial statement presentation under GAAP. As such, they do not have standardized meanings, may not be comparable to similar measures presented by other issuers and should not be considered a substitute for or superior to GAAP results. For further information regarding these non-GAAP measures, please refer to Section 17 (Non-GAAP Financial Measures) of Management's Discussion and Analysis of Results of Operations and Financial Condition dated May 6, 2025 which is available under Chorus' profile on SEDAR+ ( and incorporated herein by reference. SOURCE Chorus Aviation Inc. 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1News
06-06-2025
- 1News
Internet outage hits thousands in lower North Island
A temporary outage of one of Chorus' core ethernet routers left thousands without internet across the lower North Island today. A spokesperson for the telecommunications infrastructure company told 1News shortly after midday that all impacted services were back online. "Chorus sincerely apologises for the inconvenience caused and are investigating the root issue." DownDetector showed a large spike in outages across telecommunications companies Spark, One NZ, Skinny and 2Degrees from around 10.45am. A Chorus map showed that at the peak of the outage, more than 10,000 services were affected. ADVERTISEMENT More than 10,000 services affected by the outage across Wellington. (Source: Chorus) Voyager also said it had identified an issue impacting its Chorus Wellington UFB handover. "This handover services Wellington, Kapiti, Hutt Valley, Palmerston North and through to Napier. Currently around 90% of connections are offline. We are working with Chorus on a resolution."
Associated Press
21-05-2025
- Business
- Associated Press
Chorus Aviation Inc. Announces Preliminary Results of Substantial Issuer Bid
HALIFAX, NS, May 21, 2025 /CNW/ - Chorus Aviation Inc. (TSX: CHR) ('Chorus' or the 'Company') today announced the preliminary results of its substantial issuer bid (the 'Offer') to purchase for cancellation up to $25,000,000 of its issued and outstanding Class A Variable Voting Shares and Class B Voting Shares (collectively, the 'Shares'). The Offer expired at 5:00 p.m. (Toronto time) on May 20, 2025. All amounts in this press release are in Canadian dollars. Based on the preliminary count by TSX Trust Company, the depositary for the Offer (the 'Depositary'), a total of 471,319 Shares of Chorus were properly tendered and not withdrawn. In accordance with the terms of the Offer, Chorus has informed the Depositary that it is taking up Shares properly tendered to the Offer at the time of expiry. Based on the preliminary count by the Depositary, Chorus expects to take up and purchase for cancellation an aggregate of 471,319 Shares at a purchase price of $21.00 per Share. The Shares expected to be purchased under the Offer represented approximately 1.78% of the issued and outstanding Shares as of April 11, 2025, the last trading day prior to the date the Offer was publicly announced. Immediately following completion of the Offer, Chorus anticipates that 25,992,518 Shares will remain issued and outstanding. As the total value of Shares tendered was less than the total that could have been purchased by the Company under the terms of the Offer, all Shares validly deposited and not withdrawn will be purchased under the Offer and no proration will be required. The number of Shares properly tendered and not withdrawn, the number of Shares expected to be purchased, and the purchase price are all preliminary and subject to verification by the Depositary. Following completion by the Depositary of the verification process and the guaranteed delivery period, the Company will issue a final press release including the final number of Shares purchased, the final purchase price, and the estimated paid-up capital per Share and 'specified amount' (each for purposes of the Income Tax Act (Canada)). Promptly after such announcement, payment for the Shares accepted for purchase will be made in accordance with the terms of the Offer, and the Depositary will return all other Shares tendered and not purchased under the Offer. The full details of the Offer are described in the issuer bid circular dated April 14, 2025, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available under the Company's profile on SEDAR+ at and on Chorus' website at This news release is for informational purposes only and is not intended to and does not constitute an offer to purchase or the solicitation of an offer to sell Shares. The solicitation and the offer to buy Shares is only being made pursuant to the Offer Documents. The Company's normal course issuer bid for its Shares (the 'NCIB') was suspended during the period of the Offer. The Company intends to resume the NCIB and continue purchasing Shares thereunder until the expiry of the NCIB on November 13, 2025 or such earlier date on which Chorus has purchased the maximum number of Shares permitted under the NCIB. Chorus intends to make purchases under the NCIB on an opportunistic basis, taking Share price and other considerations into account. There can be no assurance as to how many Shares, if any, Chorus will acquire under the NCIB. Forward-Looking Information This news release contains forward-looking information and statements within the meaning of applicable securities laws (collectively, 'forward-looking information'). Forward-looking information is identified by the use of terms and phrases such as 'anticipate', 'believe', 'could', 'estimate', 'expect', 'intend', 'may', 'plan', 'potential', 'predict', 'project', 'will', 'would', and similar terms and phrases, including negative versions thereof. All information and statements other than statements of historical fact are forward-looking and by their nature, are based on various underlying assumptions and expectations that are subject to known and unknown risks, uncertainties and other factors that may cause actual future results, performance or achievements to differ materially from those indicated in the forward-looking information. As a result, there can be no assurance that the forward-looking information included in this news release will prove to be accurate or correct. Examples of forward-looking information in this news release include statements and expectations regarding the expected results of the Offer, the final Purchase Price, the approximate number of Shares expected to be issued and outstanding following completion of the Offer, the Company's intentions to resume its NCIB and expected commencement date, and the timing of payment for Shares purchased under the Offer. Actual results may differ materially from those anticipated in forward-looking information for a number of reasons including: changes in the aviation industry and general economic conditions; the emergence of disputes with contractual counterparties (including under the CPA); a deterioration in Air Canada's financial condition; any default by Chorus under debt covenants; asset impairments; changes in law; litigation; the imposition of tariffs on Canadian exports or imports or adverse changes to existing trade agreements and/or relationships; and the risk factors described in Chorus' public disclosure record available under Chorus' profile on SEDAR+ at The forward-looking information contained in this news release represents Chorus' expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, subsequent events or otherwise, except as required by applicable securities laws. Readers are cautioned that the foregoing factors and risks are not exhaustive. About Chorus Aviation Inc. Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus' subsidiaries provide services that encompass every stage of an aircraft's lifecycle, including: contract flying, aircraft refurbishment, engineering, modification, repurposing and transition; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training. Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. Chorus' 6.00% Convertible Senior Unsecured Debentures due June 30, 2026 and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbols ' and ' respectively. For further information on Chorus, please visit SOURCE Chorus Aviation Inc.
Techday NZ
20-05-2025
- Business
- Techday NZ
Chorus boosts NZ business fibre with new 1Gbps option, faster fixes
Chorus has introduced a set of enhancements to its business fibre plans in New Zealand, including a new 1Gbps symmetrical option and quicker restoration services, aimed at supporting the increasing digital requirements of small and medium-sized businesses. The updated plans come as digitalisation continues to play an essential role in business productivity and competitiveness, prompting demand for more robust and reliable connectivity across the country. According to Dan Kelly, General Manager of Access at Chorus, the transformation towards digital tools presents significant advantages for business operations. "Digitalisation is not something businesses can or should shy away from. It's an opportunity to work smarter, using tools that can drive business productivity and efficiency. With the rise of cloud software, increasing files sizes, hybrid work models, and always-on customer expectations - having connectivity that keeps up with the pace of business can make the difference where it matters," says Kelly. Kelly cited recent findings from Xero, highlighting that adopting digital tools is a crucial enabler for productivity growth at both national and individual business levels. "Recent Xero reporting shows adoption of digital tools is a key enabler for small business productivity growth, both at a national and individual level. Insights from the New Zealand Institute of Economic Research show that a 20% increase in the number of businesses adopting cloud-based business tools in the future could add up to NZD $7.8 billion to New Zealand's GDP through increased productivity." Among the updates, Chorus has launched a new 1Gbps symmetrical plan, which offers equal upload and download speeds, and has improved committed information rates to guarantee bandwidth for critical business applications. The company has also introduced faster restoration timeframes and enhancements to service reporting. Kelly stated that these adjustments are part of Chorus's objective to cooperate with internet service providers in delivering connectivity solutions tailored to business requirements. "These enhancements to the business fibre plans reflect Chorus' ongoing commitment to working with internet services providers to deliver robust, fit-for-purpose products and services for the business community," says Kelly. The enhancements were developed after targeted consultation and market research to determine the current needs of enterprises in New Zealand. Chorus' recent research underscores businesses' growing dependence on internet connectivity. The data shows that the average time businesses can operate without the internet has dropped to 6.9 hours, compared to 9.6 hours in 2022. Daily activities such as e-commerce transactions, cloud application use, video conferencing, and EFTPOS payments rely heavily on a reliable internet service. According to the research, the effects of connectivity outages are immediate and significant. Impacts identified include disruption to operating function (54%), compromised customer satisfaction (49%), reduced productivity (48%), and lessened revenue (43%). Additionally, 60% of businesses identified rapid service restoration as the most important connectivity feature. "New Zealand businesses need the right infrastructure in place to support them on their digitalisation journey," Kelly adds. "We're confident that the Chorus fibre network delivers exactly what they need to do so confidently. It starts with reliable, built-for-purpose, business-grade connectivity, and you have that here with business fibre." Chorus references customer examples such as Method, an enterprise relying on high-speed, symmetrical bandwidth to manage large animation files and collaborate with international clients, and Isometric, which requires uninterrupted, high-bandwidth internet to support its cloud-based operations and day-to-day business activities. Chorus notes that service-based and e-commerce businesses with demands for speed and reliability can benefit from the expansive capabilities of the updated business fibre and Hyperfibre plans. Chorus' fibre network forms part of the infrastructure underpinning connectivity for thousands of New Zealand business. It follows over a decade of involvement in rolling out the government's Ultra-Fast Broadband programme.
