KELOWNA, BC, June 22, 2023 /CNW/ - Decisive Dividend Corporation (TSXV: DE) ("Decisive" or the "Corporation") is pleased to announce that its Board of Directors approved an increase in its regular monthly dividend to $0.04 per common share, commencing for its August 2023 monthly dividend. The increase in the monthly dividend will represent annualized dividends of $0.48 per common share, up 14% from the previous level set in March 2023 at $0.42 per common share on an annualized basis. The increase reflects the Corporation's year-to-date 2023 operating performance and is consistent with Decisive's objective of providing shareholders with long-term, sustainable, and growing dividends.

Jeff Schellenberg, Chief Executive Officer of Decisive, noted:

"Our year-to-date operating performance has put us in a position where we can increase the monthly dividend for the second time in 2023. Our ability to do so is premised on the growth in our cash flows and strengthening payout ratio resulting from our year-to-date 2023 operating results as well as the backlog of demand across our ten portfolio businesses, including the three businesses acquired at the beginning of April 2023. Increasing annualized dividends from $0.36 per share to $0.42 per share effective for the April 2023 dividend, and now to $0.48 per share effective for the August 2023 dividend demonstrates our commitment to provide sustainable and growing dividends to our shareholders."   

The $0.035 per common share dividend declared and announced on June 15, 2023, payable on July 14, 2023 to shareholders of record at the close of business on June 30, 2023, remains unchanged. The increased monthly dividend of $0.04 per share is effective for the August 2023 dividend payment and will be payable on August 15, 2023, to the shareholders of record at the close of business on July 31, 2023.

The Corporation also announced today the voting results on the election of directors from its annual general and special meeting of shareholders held on June 22, 2023 (the "2023 AGM").

A total of 8,190,292 common shares representing 47.1% of the Corporation's issued and outstanding shares were represented in person or by proxy at the 2023 AGM. Shareholders approved all items of business before the 2023 AGM, including the election of directors as follows:

In terms of the other results of the 2023 AGM, shareholders approved:

Decisive Dividend Corporation is an acquisition-oriented company, focused on opportunities in manufacturing. The Corporation's purpose is to be the sought-out choice for exiting legacy-minded business owners, while supporting the long-term success of the businesses acquired, and through that, creating sustainable and growing shareholder returns. The Corporation uses a disciplined acquisition strategy to identify already profitable, well-established, high quality manufacturing companies that have a sustainable competitive advantage, a focus on non-discretionary products, steady cash flows, growth potential and established, strong leadership.

For more information on Decisive, or to sign up for email notifications of Corporation press releases, please visit www.decisivedividend.com.

Cautionary Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release.

This press release contains forward-looking statements. These statements relate to the monthly dividend policy adopted by the directors of the Corporation. The declaration and payment of dividends are subject to a number of risks, uncertainties and assumptions, including without limitation the financial performance and condition of the Corporation, the satisfaction of covenants under the Corporation's credit facility and solvency tests under applicable corporate law. There can be no assurance that the directors of the Corporation will declare or pay any dividends in the future or, if dividends are declared and paid, there can be no assurance as to the frequency or amount of such dividends. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information.

SOURCE Decisive Dividend Corporation

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