TORONTO – AlarmForce Industries Inc. (TSX:AF) is increasing its annual cash dividend to 12 cents from 10 cents per share.
The company, which provides alarm monitoring, video surveillance and emergency response monitoring to residential and commercial customers in both Canada and the United States, says its new quarterly dividend of three cents per share will be payable May 20 to shareholders of record on April 30.
Based on the company’s closing share price Monday or $11.24, up four cents, the higher dividend would provide an annual yield of just over one per cent.
“The board’s decision to increase the dividend reflects the company’s strong cash position and confidence in AlarmForce’s ability to continue generating profits and cash flows,” interim president and CEO Anthony Pizzonia said in a release after markets closed.
“This is in line with our strategy to deliver consistent returns to our shareholders and give them an additional opportunity to benefit from our operational strength.”