TSXV: CAA
VANCOUVER, Nov. 26, 2014 /CNW/ - Callinan Royalties
Corporation ('Callinan', the 'Company') (TSXV: CAA) announces that
its board of directors has declared a quarterly cash dividend for
the quarter ending December 31, 2014
on its common shares of two cents per
common share to all shareholders of record at the close of business
on December 31, 2014. The ex-dividend
date will be December 29, 2014 and it
is expected that the dividend will be paid on or about January 15, 2015.
It is anticipated that future quarterly dividends will be
payable approximately 15 days following each fiscal quarter. The
declaration, timing, and payment of future dividends will largely
depend on the Company's financial results as well as other factors.
Dividends paid by Callinan Royalties Corporation are eligible
dividends for Canadian income tax purposes unless otherwise
stated.
On Behalf of the Board of Directors,
Glenn Brown
Glenn Brown, Interim CEO
About Callinan Royalties
Callinan Royalties Corporation is one of the oldest public
listings in Canada, and one of the
first contributors to development of the Flin Flon, Manitoba copper-zinc
district. Callinan holds a 6⅔% net profits interest royalty
and a production royalty of $0.275
per metric tonne of ore milled on lands that include the producing
777 mine and 777 North mine operated by Hudbay Minerals
Inc.
The Company invests its royalty income to provide alternative
financing options to mineral exploration and development companies
with attractive projects and excellent management.
Callinan is a dividend-paying Tier 1 company listed on the TSX
Venture Exchange under the symbol CAA. The Company has a
strong financial position with no debt, recurring annual cash flow
from the 777 royalties and approximately 49.2 million shares
outstanding.
For more information, please visit www.callinan.com or
contact:
Glenn Brown, Interim CEO -
Extension 3
or Flora Wood, Corporate
Communications – Extension 4
Callinan Royalties Corporation
+1 604 424 8639
shareholder@callinan.com
Corporate Office:
770 - 475 West Georgia Street
Vancouver, BC
Canada, V6B 4M9
Cautionary Statement on Forward-Looking Information
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 this release. Certain of the
information presented in this News Release may constitute
"forward-looking statements" or "forward-looking information"
within the meaning of Canadian securities legislation (together
referred to as "forward-looking statements"). The forward-looking
statements are subject to risks, uncertainties and other factors
that may cause actual results to be materially different from those
expressed or implied by such forward-looking statements, including
any delays in the receipt of consents or approvals. Although
Callinan Royalties has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements contained in this News
Release and in any document referred to in this News Release.
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date the statements are made and
Callinan Royalties undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions
or other circumstances should change, except as required by
applicable law.
SOURCE Callinan Royalties Corporation