TORONTO, Feb. 11,
2025 /CNW/ - Propel Holdings Inc. ("Propel" or
the "Company") (TSX: PRL), the fintech facilitating access
to credit for underserved consumers, announced today that its Board
of Directors has approved an increase to its dividend from
C$0.60 to C$0.66 per common share on an annualized basis,
and declared a Q1 2025 dividend of C$0.165 per common share. This dividend
represents an increase of 10% and the Company's seventh dividend
increase since the beginning of 2023. The dividend will be payable
on March 5, 2025 to shareholders of
record as of the close of business on February 19, 2025.
"Driven by our strong credit performance, confidence in our
global growth outlook, and solid financial position, we have
increased our dividend," Clive
Kinross, CEO.
Propel has designated this dividend as an eligible dividend
within the meaning of the Income Tax Act (Canada).
About Propel
Propel Holdings Inc. (TSX: PRL) is the fintech company building
a new world of financial opportunity for consumers, partners, and
investors. Propel's operating brands — Fora Credit, CreditFresh,
MoneyKey and QuidMarket — and our Lending-as-a-Service product
line facilitate access to credit for consumers underserved by
traditional financial institutions. Through its AI-powered
platform, Propel evaluates customers in a more comprehensive way
than traditional credit scores can. The result is better products
and an expanded credit market for consumers while creating
sustainable, profitable growth for Propel. Our revolutionary
fintech platform has already helped consumers access over one
million loans and lines of credit and over two billion dollars in credit. At Propel, we are
here to change the way customers, partners and investors succeed
together. Learn more at propelholdings.com
Forward-Looking Information
Certain statements made in this press release may constitute
forward-looking information under applicable securities laws. These
statements may relate to our sustainable, profitable growth
prospects, the amount and timing of our dividend and our ability to
profitably grow our business and facilitate access to credit to
more and more underserved consumers. As the context requires, this
may include certain targets as disclosed in the prospectus for our
initial public offering, which are based on the factors and
assumptions, and subject to the risks, as set out therein and
herein. Often but not always, forward-looking statements can be
identified by the use of forward-looking terminology such as "may",
"will", "expect", "believe", "estimate", "plan", "could", "should",
"would", "outlook", "forecast", "anticipate", "foresee", "continue"
or the negative of these terms or variations of them or similar
terminology.
Many factors could cause our actual results, level of activity,
performance or achievements or future events or developments to
differ materially from those expressed or implied by the
forward-looking statements, including, without limitation, the
factors discussed in the "Risk Factors" section of the Company's
annual information form dated March 12,
2024, for the year ended December 31,
2023 (the "AIF"). A copy of the AIF and the Company's
other publicly filed documents can be accessed under the Company's
profile on SEDAR+ at www.sedarplus.ca.
The Company cautions that the list of risk factors and
uncertainties described in the AIF 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 in this press release represents our
expectations as of the date of this press release (or as the date
they are otherwise stated to be made) and is 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.
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of this statement.
SOURCE Propel Holdings Inc.
