IBI Group Inc. announces change to its monthly dividend

IBI Group Inc. announces change to its monthly dividend

stock-market

Wednesday, December 12, 2012

Toronto – IBI Group Inc. announces that its current dividend of $1.10 per common share per annum and payable monthly at $0.092 per month will be reduced 50% to $0.55 per share per year and will be payable quarterly at $0.1375 per quarter.

This decision is effective as for the next dividend, to be declared on February 18, 2013, for shareholders of record as of February 28, 2013, and payable March 31, 2013. The distributions on the 5,025,778 Class B units of the IBI Group partnership (which are exchangeable for common shares), held by IBI Group Management Partnership, will similarly be reduced by 50% and payable quarterly, effective at the same time.

Resetting of the dividend and of the distributions will result in the retention of approximate $13 million in cash annually. This cash retained will be primarily used for the paying down of debt and enhancing the profitability and the balance sheet of IBI.

As indicated previously, IBI has reduced staff in line with committed work, and will continue to do so to enhance productivity and profitability. IBI Group notes, however, that the business of the firm continues to grow materially, both geographically and in diversity, continuing to support the maintenance of a significant backlog in business.

The majority of the new business is from existing clients in Canada, the United States, the United Kingdom, and other established areas of the IBI practice. Additionally, IBI Group is succeeding in attracting new clients, new market areas, and entering new facets of work. These include work in Intelligent Systems in Mexico and South Africa; projects in Urban Transit in North America and internationally; and an increase in projects for the private sector in developments in the United States as the economy recovers there from the recession of Q4 2008.

Growth in resources for new work secured organically will be primarily from internal sources as required. Acquisitions of new firms by IBI will be made very selectively, as in the case of the current purchase of ME Companies of Ohio.

About IBI Group Inc. and IBI Group
IBI Group Inc. is a TSX-listed company, which pays dividends and trades under the symbol “IBG”. IBI Group Inc. holds an indirect 77% interest in IBI Group, a partnership (of a subsidiary of IBI Group Inc. and IBI Group Management Partnership) which, directly and through its subsidiary entities, provides professional services, including planning, design, implementation, analysis of operations and other consulting services in relation to four main areas of development, being urban land, building facilities, transportation networks and systems technology.

The remaining 23% of IBI Group is owned by IBI Group Management Partnership. On a partially diluted basis, assuming the exchange of its partnership units of IBI Group for common shares of IBI Group Inc., IBI Group Management Partnership together with affiliated entities holds a combined 42% interest in IBI Group Inc.

Forward-looking statements
This news release contains forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward looking statements include, or may be based upon, estimates, forecasts, and statements as to management’s expectations. Although IBI believes that the assumptions inherent in the forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. A number of factors could cause actual results to differ materially from those in forward-looking statements, including general economic, market or business conditions and the factors discussed in IBI Group Inc.’s Annual Information Form filed with the Canadian securities regulatory authorities. Undue reliance should not be placed on these statements, which only apply as of the date of this news release. IBI undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Source: IBI Group Inc.
For further information:
Philip Beinhaker IBI Group Inc.
230 Richmond Street West, 5th Floor
Toronto, ON M5V 1V6
Tel: 416-596-1930, Fax: 416-596-8024

Investor News Archive

  • ibi-news-ottawa-transportation-master-plan
    Tuesday, November 18, 2014
    Ottawa transportation master plan wins OPPI awardOttawa transportation master plan wins OPPI awardOttawa transportation master plan wins OPPI award
    Read full story »
  • ibi-news-columbia-grammar-school-usa
    Friday, November 14, 2014
    Columbia Grammar School wins AIA historic preservation awardColumbia Grammar School wins AIA historic preservation awardColumbia Grammar School wins AIA historic preservation award
    Read full story »
  • ibi-news-go-erindale-parking-mud-award
    Wednesday, November 5, 2014
    IBI GO transit project wins MUD awardIBI GO transit project wins MUD awardIBI GO transit project wins MUD award
    Read full story »
  • ibi-news-trillium-creek-school-or-01
    Tuesday, November 4, 2014
    IBI wins top school facility award for Trillium CreekIBI wins top school facility award for Trillium CreekIBI wins top school facility award for Trillium Creek
    Read full story »
  • ibi-news-max-brt-award-us-01
    Friday, October 31, 2014
    IBI transit project wins Best Project ENR awardIBI transit project wins Best Project ENR awardIBI transit project wins Best Project ENR award
    Read full story »
  • ibi-global-cities-meeting-portland
    Friday, November 21, 2014
    IBI takes part in Global Cities challengeIBI takes part in Global Cities challengeIBI takes part in Global Cities challenge
    Read full story »
  • ibi-news-orem-master-plan
    Thursday, November 13, 2014
    IBI to create master plan to re-imagine Orem’s State Street IBI to create master plan to re-imagine Orem’s State Street IBI to create master plan to re-imagine Orem’s State Street
    Read full story »
  • ibi-news-cubric-cardiff-university-uk-01
    Sunday, November 2, 2014
    Work starts on Cardiff University brain imaging centreWork starts on Cardiff University brain imaging centreWork starts on Cardiff University brain imaging centre
    Read full story »
  • ibi-news-greenline-tracking-system-boston
    Friday, October 24, 2014
    IBI Group helps MBTA track Green Line train locationsIBI Group helps MBTA track Green Line train locationsIBI Group helps MBTA track Green Line train locations
    Read full story »
  • ibi-news-macmillan-centre-uk-01
    Thursday, October 23, 2014
    IBI Group’s “pebble” concept cancer centre opensIBI Group’s “pebble” concept cancer centre opensIBI Group’s “pebble” concept cancer centre opens
    Read full story »
Get In Touch
  1. (required)
  2. (valid email required)
  3. (required)
  4. (required)
  5. Captcha
 

cforms contact form by delicious:days

Please visit our Diversity page for further information regarding reasonable accommodation for persons with disabilities or limited English proficiency participating in any of our public outreach efforts.