MISSISSAUGA, ON, Aug. 14,
2024 /CNW/ - the Board of Directors of Cargojet
Inc. ("Cargojet" or the "Corporation") (TSX: CJT) has declared
a cash dividend of $0.35 per common
voting share and variable voting share for the period from
July 1, 2024 to September 30, 2024, an increase of $0.0354 or 11.25% per share from the previous
quarter.
"This increase in the cash dividend reinforces our commitment to
return value to our shareholders," said Jamie Porteous,
Co-Chief Executive Officer. "It is also consistent with our capital
allocation plan to periodically increase cash returns to our
shareholders", said Pauline Dhillon,
Co-Chief Executive Officer.
The record date for determining shareholders of the Corporation
entitled to receive payment of the dividend of the Corporation
shall be September 20, 2024 and the
payment date for such dividend shall be on or before October 4, 2024. These dividends will be eligible
dividends within the meaning of the Income Tax Act (Canada).
Cargojet is Canada's leading
provider of time sensitive premium air cargo services to all major
cities across North America,
providing Dedicated, ACMI and International Charter services and
carries over 25,000,000 pounds of cargo weekly. Cargojet operates
its network with its own fleet of 41 aircraft.
Notice on Forward Looking Statements:
Certain statements contained herein constitute "forward-looking
statements". Forward-looking statements look into the future
and provide an opinion as to the effect of certain events and
trends on the business. Forward-looking statements may
include words such as "plans," "intends," "anticipates," "should,"
"estimates," "expects," "believes," "indicates," "targeting,"
"suggests" and similar expressions. These forward-looking
statements are based on current expectations and entail various
risks and uncertainties. Reference should be made to the issuer's
most recent Annual Information Form filed with the Canadian
securities regulators, and its most recent Annual Consolidated
Financial Statements and Quarterly Financial Statements and Notes
thereto and related Management's Discussion and Analysis
(MD&A), for a summary of major risks. Actual results may
materially differ from expectations, if known and unknown risks or
uncertainties affect our business, or if our estimates or
assumptions prove inaccurate. The issuer assumes no
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or any other
reason, other than as required by applicable securities laws. In
the event the issuer does update any forward-looking statement, no
inference should be made that the issuer will make additional
updates with respect to that statement, related matters, or any
other forward-looking statement.
SOURCE Cargojet Inc.