EDMONTON, AB, Aug. 13, 2020
/CNW/ - Imperial Equities Inc. today announced it has
suspended its dividends for the Third and Fourth Quarters of
2020.
"This was a difficult decision for our Board of Directors," said
Sine Chadi, CEO of Imperial Equities. "When we brought back
dividends in Q1 2020, we saw it as a long-term move and appropriate
recognition for those shareholders who have invested in our
Company. However, as we manage through the impacts of COVID-19 in
particular, and we consider our risk strategies in the face of
future uncertainty, it is prudent to ensure we have sufficient cash
flows to meet all of our corporate obligations, and to retain some
reserve given ongoing uncertainties."
The Company has managed through the pandemic period making
short-term adaptations to leases and to cash flow management,
thereby ensuring an ongoing ability to meet all financing
obligations and to fund future investment opportunities.
"I am confident that this will be a short-term decision, and
that we will be able to resume dividend payments in the near
future," Mr. Chadi added. The Board of Directors will
continue to evaluate the Company's position with respect to
dividends.
About Imperial Equities Inc.:
Based in Edmonton, Alberta,
Imperial Equities Inc. is a publicly traded company anchored by
industrial, agricultural and commercial real estate properties in
its targeted markets throughout Western
Canada. Additional information is available
at: www.imperialequities.com. Imperial's common shares are
listed on the TSX Venture Exchange under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE Imperial Equities Inc.