Boston, MA 10/07/2014 (wallstreetpr) – MFC Industrial Ltd (NYSE:MIL) announced the details of the release of the third installment of the annual cash dividend for the year 2014 yesterday. The company, which is a commodity supply chain based firm made the communication through an official press release.
Third Installment
MFC Industrial Ltd (NYSE:MIL) will pay a dividend at the rate of $0.06 per share to the shareholders on the records of the company’s books as on October 16, 2014. The dividend will be paid on October 27, 2014. For the purpose of this transaction, the shares of the company will start trading ex-dividend from October 14, 2014. Further, the said dividend payment will comply with the standard Canadian withholding tax for non-resident shareholders. Thus, the withholding tax rate is 15% for eligible U.S. resident shareholders as per the applicable tax treaty, while the dividend is in accordance with the Income Tax Act (Canada).
MFC Industrial Ltd (NYSE:MIL) reiterated that the said dividend is third out of the four fixed cash dividend for the year 2014. However, the declaration of such future cash dividends will depend on a number of factors as well as the company’s financial performance.
Past Payouts
Earlier in March 2014, the Board of Directors of MFC Industrial Ltd (NYSE:MIL) announced $0.24 per share as annual cash dividend for the year. The fixed dividend was decided to be paid in equal installments spread evenly across four quarters. The company made the first dividend declaration in April, 2014, when it paid $0.06 per share to shareholders on April 22, 2014. Similarly, it released the second installment of its annual cash dividend at the rate of $0.06 per share on August 8, 2014.
MFC Industrial Ltd (NYSE:MIL) had anticipated declaring third installment in September, which has rolled over to early October now. Further, the notification of the company states that it could announce the fourth and final installment of annual cash dividend during November, 2014, subject to certain conditions.
