MISSISSAUGA, ON, Nov. 7, 2023
/CNW/ - The Board of Directors of Cargojet Inc. has declared a cash
dividend of $0.3146 per common voting
share and variable voting share for the period from October 1, 2023, to December 31, 2023, an increase of $0.0286 or 10.0% per share from the previous
quarter.
"This increase in the cash dividend reinforces our commitment to
return value to our shareholders," said Dr. Ajay Virmani, President and Chief Executive
Officer. "It is also consistent with our capital allocation
plan to periodically increase cash returns to our shareholders", he
added.
The dividends will be paid to all shareholders of record as at
the close of business on December 20,
2023, and will be payable on or before January 5, 2024. These dividends will be
eligible dividends within the meaning of the Income Tax Act
(Canada).
Cargojet is Canada's leading
provider of time sensitive premium air cargo services to all major
cities across North America,
providing Dedicated, ACMI and International Charter services and
carries over 25,000,000 pounds of cargo weekly. Cargojet operates
its cargo network with its own fleet of 39 aircraft.
Notice on Forward Looking Statements:
Certain statements contained herein constitute "forward-looking
statements", including with respect to the Corporation's intention
to reduce planned capital expenditures and operating costs, to
strengthen strategic customer relationships, Forward-looking
statements look into the future and provide an opinion as to the
effect of certain events and trends on the business.
Forward-looking statements may include words such as "plans,"
"intends," "anticipates," "should," "estimates," "expects,"
"believes," "indicates," "targeting," "suggests" and similar
expressions. These forward-looking statements are based on current
expectations and entail various risks and uncertainties. Reference
should be made to the issuer's most recent Annual Information Form
(AIF) filed with the Canadian securities regulators, and it's most
recent Annual Consolidated Financial Statements and Notes thereto
and related Management's Discussion and Analysis (MD&A), for a
summary of major risks. Actual results may materially differ from
expectations, if known and unknown risks or uncertainties affect
our business, or if our estimates or assumptions prove inaccurate.
The Corporation cautions that the list of risk factors and
uncertainties described in the AIF and MD&A is not exhaustive
and other factors could also adversely affect its results. Readers
are urged to consider the risks, uncertainties and assumptions
carefully in evaluating the forward-looking information and are
cautioned not to place undue reliance on such information. The
forward-looking information contained herein represents our
expectations as of the date hereof (or as the date they are
otherwise stated to be made), and are subject to change after such
date. However, we disclaim any intention or obligation or
undertaking to update or revise any forward-looking information
whether as a result of new information, future events or otherwise,
except as required under applicable securities laws. In the event
the issuer does update any forward-looking statement, no inference
should be made that the issuer will make additional updates with
respect to that statement, related matters, or any other
forward-looking statement.
SOURCE Cargojet Inc.