CALGARY, Alberta--(BUSINESS WIRE)--Rocky Mountain Dealerships Inc. ("RME") (TSX:RME), Canada's largest agriculture equipment dealer, today announced that on September 3, 2019, its Board of Directors (the "Board") declared a quarterly dividend of $0.1225 per common share on RME’s outstanding common shares. The common share dividend is payable on September 30, 2019, to shareholders of record at the close of business on September 13, 2019.
Based on the September 3, 2019 closing price of $6.69 for RME's common shares, the current annual dividend reflects a yield of 7.32%.
This dividend is designated by RME to be an "eligible dividend" for the purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to "eligible dividends" paid to Canadian residents. Please consult with your own tax advisor for advice with respect to the income tax consequences to you from RME designating its dividends as "eligible dividends.”
Investors are cautioned that dividends remain subject to approval by RME's Board, and that the Board may, at any time, increase, decrease or suspend payment of the dividend.
About Rocky Mountain Dealerships Inc. (TSX:RME)
RME is Canada's largest agriculture equipment dealer with branches located throughout Alberta, Saskatchewan, and Manitoba. Through its dealer network, RME sells, rents, and leases new and used agriculture equipment and offers product support and finance to its customers.