TORONTO – AlarmForce Industries Inc. (TSX:AF), citing what it says is a strong cash position, has announced a special dividend of 60 cents per share.
The company, which provides home and business alarm systems and monitoring, announced after markets closed on Tuesday that the special dividend would be paid May 20 to shareholders of record on April 30.
It is in additional to the company’s regular quarterly dividend of 2.5 cents per share.
“We believe this special dividend is the best utilization of the company’s strong cash position,” interim president and CEO Anthony Pizzonia said in a statement.
“Along with our regular dividend, this return of cash to shareholders reinforces the strength of our performance, our healthy cash balances and our ability to grow the company through cash flows from operations.”
On the Toronto Stock Exchange, AlarmForce shares closed up seven cents at $10.75 on Tuesday.