CANADA: Big Rock monthly distribution announced
Shareholders in Big Rock Brewery are to get an C$0.11 (US$0.10) share payment next month.
The Canadian brewer's income trust said yesterday (23 November) that the payment will be made on 15 December to unitholders of record on 30 November. The trust units will commence trading on an ex-dividend basis on Tuesday (28 November).
Earlier this month, the brewer received approval from the Toronto Stock Exchange to buy back 5% of its issued and outstanding trust units over the next 12 months.
The trust will bid for up to 302,048 units, but is limited to no more than 120,818 units in any 30-day period. All units purchased will be returned to treasury for cancellation. Just over 6m units are currently in existence.
Big Rock's trust will be permitted to start the bid from tomorrow, and has until 16 November next year to complete the scheme.
Sectors: Beer & cider
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