Accord Increases Quarterly Dividend to 7.5 Cents Per Common Share
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.
For further information, please visit www.accordfinancial.com or contact:
Stuart Adair
Senior Vice President, Chief Financial Officer
Accord Financial Corp.
602 – 40 Eglinton Avenue East
Toronto, ON M4P 3A2
(416) 642-5647
sadair@accordfinancial.com