The Board of Directors of Cargojet Inc. has declared a cash dividend of $0.2600 per common voting share and variable voting share for the period from January 1, 2021, to March 31, 2021, an increase of $0.0260 or 11.1% per share from the previous quarter.
“In recognition of our 2020 results and our strengthened financial position, our Board has voted to increase the dividend,” said Dr. Ajay Virmani, President, and Chief Executive Officer. “We remain committed to prudently manage our cashflows and will continue to strike the right balance between investing in growth and returning cash to shareholders”, he added.
Cargojet has a long history of providing value to its shareholders through regular dividend increases. This also marks the 16th consecutive year Cargojet has paid dividends or cash distributions.
The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be March 19, 2021, and the payment date for such dividend shall be on or before April 5, 2021. 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 28 cargo aircraft.
