TORONTO, Jan. 28, 2022 /CNW/ - Accord Financial Corp.
(TSX: ACD) today announced that its Board of Directors has
declared a quarterly dividend of $0.075 per common share, payable March 1, 2022, to shareholders of record at the
close of business February 15, 2022.
This represents a 50 percent increase from $0.05 per share paid in recent quarters.
Commenting on the increase, the Company's President and CEO, Mr.
Simon Hitzig, stated: "Since
emerging from the economic shutdown in the summer of 2020, Accord
has reported five straight quarters of strong financial performance
to September 30, 2021. With our
company squarely back on its pre-pandemic growth path, we have the
confidence to begin increasing the dividend, while remaining
in the 20-25% of earnings range we hold as an informal payout
ratio." Mr. Hitzig added: "Accord's record funds employed, revenue
and earnings exceed pre-pandemic levels, which allows us to
continue to invest in, and fund, our growth strategy, while at the
same time pacing dividend growth alongside earnings growth."
About Accord Financial Corp.
Accord Financial is
North America's most dynamic
commercial finance company providing fast, versatile financing
solutions for companies in transition, including asset-based
lending, factoring, inventory finance, equipment leasing, trade
finance and film/media finance. By leveraging our unique
combination of financial strength, deep experience and independent
thinking, we craft winning financial solutions for small and
medium-sized businesses, simply delivered, so our clients can
thrive. For 43 years, Accord has helped businesses manage their
cash flows and maximize financial opportunities.
SOURCE Accord Financial Corp.