Olympia Financial Group Inc. (“Olympia”) (TSX: OLY) is pleased to announce that its Board of Directors has approved an increase of $0.04 in the monthly cash dividend paid on Olympia common shares from $0.23 to $0.27 per common share. Olympia’s new monthly cash dividend of $0.27 per common share will begin with the May 2022 monthly cash dividend. Olympia’s cash dividend payments to holders of Olympia common stock are designated as “eligible dividends” for Canadian tax purposes.
Consistent with the foregoing, Olympia’s Board of Directors has also declared a monthly cash dividend on Olympia common stock of $0.27 per common share. This dividend will be payable on May 31, 2022 to shareholders of record on May 19, 2022. The ex-dividend date is May 18, 2022.
Olympia designates the full amount of such taxable cash dividend as an “Eligible Dividend” for the purposes of income tax law (Canada), as amended from time to time. Please contact your tax advisor if you have any questions regarding the eligible dividend designation.
About Olympia Financial Group Inc.
Olympia Financial Group Inc. conducts most of its business through its subsidiary Olympia Trust Company, a non-depository trust company. Olympia Trust Company is licensed to carry on trust business in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick and Nova Scotia. Olympia Trust Company administers self-directed registered plan accounts, provides foreign exchange and payment services, corporate trust services and transfer agency services. Olympia also provides private health insurance plans and information technology services to exempt market dealers, registrants and issuers through its subsidiary Olympia Benefits Inc.
Olympia’s common shares are listed on the Toronto Stock Exchange under the symbol “OLY”.
Statements regarding forward-looking information
Portions of this press release and other public statements by Olympia contain “forward-looking information” within the meaning of applicable Canadian securities laws, which is also referred to as “forward-looking statements” which may not be based on historical facts. Wherever possible, words such as “will”, “plans”, “expects”, “targets”, “continues”, “estimates”, “planned”, “anticipates”, “believes”, “has intent,” “may,” and similar expressions or statements that certain actions, events, or results “may,” “could,” “would,” “could” or “will” be taken, occur or be carried out, have been used to identify forward-looking information. Forward-looking statements contained in Olympia’s public disclosure include, but are not limited to, Olympia’s earnings forecasts, fee income, expense levels, general economic, political and market factors in North America. and internationally, interest and currency rates, global equities and capital markets, business competition, changes in technology, changes in government regulations, unexpected legal or regulatory proceedings, catastrophic events and Olympia’s ability to complete strategic transactions and other factors. In addition, this press release contains forward-looking statements relating to the monthly dividend payments to holders of Olympia common stock.
All material assumptions used in making forward-looking statements are based on management’s knowledge of current business conditions and expectations of future business conditions and trends, including their knowledge of current interest rates and liquidity conditions affecting Olympia and the Canadian economy. Certain important factors or assumptions are applied by Olympia in making forward-looking statements, including, without limitation, factors and assumptions regarding interest and foreign exchange rates, the availability of key personnel, the effect of competition , government regulation of its business, computer failures, or security. violations, future capital requirements, market acceptance of its products, its operating cost structure, current tax regime, and Olympia’s ability to obtain necessary third party and governmental approvals, if any .