CALGARY, Nov. 15, 2016 /CNW/ – Genesis Land Development Corp. (TSX: GDC) (the “Corporation” or “Genesis”) announces that its Board of Directors has declared a special cash dividend of $0.25 per common share for a total of approximately $10.9 million payable to shareholders of record on December 9, 2016, and will be paid on December 22, 2016. The ex-dividend date for the special dividend is December 7, 2016.
The special dividend is designated as an eligible dividend under the Income Tax Act (Canada).
Genesis Land Development Corp. is a land developer and residential home builder in the Calgary Metropolitan Area. The Corporation’s common shares are listed on the Toronto Stock Exchange (TSX: GDC).
SOURCE Genesis Land Development Corp.