TORONTO, Dec. 14, 2015 /CNW/ - Callidus Capital
Corporation (the "Company" or "Callidus") is pleased to announce
that, in accordance with its previously announced dividend policy,
the Company will pay a quarterly eligible dividend of $0.175 per common share ("Common Share") of the
Company to holders of Common Shares of record on December 31, 2015. The dividend will be paid on
or before January 20, 2016.
The Company's dividend policy and normal course issuer bid are
part of Callidus' efforts to achieve a stock price that better
reflects the underlying value of its shares. Catalyst Capital Group
Inc., the Company's controlling shareholder, has encouraged the
Company to pursue further measures in that regard, including a
substantial issuer bid and, if the shares continue thereafter to
trade at a significant discount to their underlying value, a going
private transaction.
The Company also offers a Dividend Reinvestment Plan (the
"Plan"), which is eligible to holders of Common Shares and provides
a convenient means to purchase additional Common Shares by
reinvesting cash dividends without having to pay commissions,
service charges or brokerage fees.
Common Shares acquired under the Plan will be automatically
enrolled in the Plan. Shareholders who hold their Common Shares
through a broker, financial institution or other nominee must
enroll for dividend reinvestment through their nominee holder.
The full text of the Plan can be obtained on the Company's
website at http://www.calliduscapital.ca/.
For purposes of the enhanced dividend tax credit rules contained
in the Income Tax Act (Canada) and
any corresponding provincial and territorial tax legislation, all
dividends paid by Callidus on our common shares in the calendar
year, are designated as "eligible dividends".
About Callidus Capital Corporation
Established in 2003, Callidus Capital Corporation is a Canadian
company that specializes in innovative and creative financing
solutions for companies that are unable to obtain adequate
financing from conventional lending institutions. Unlike
conventional lending institutions who demand a long list of
covenants and make credit decisions based on cash flow and
projections, Callidus credit facilities have few, if any, covenants
and are based on the value of the company's assets, its enterprise
value and borrowing needs. Callidus employs a proprietary system of
monitoring collateral and exercising control over the cash inflow
and outflows of each borrower, enabling Callidus to very
effectively manage any risk of loss.
SOURCE Callidus Capital Corporation