Tuesday, 9 October 2012

Carfinco’s Early Shareholder Christmas Present




TSX: CFN
Shares outstanding: 24.65 million
Shares fully diluted: 24.65 million
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Carfinco Financial Group has started the week for its shareholders on a most pleasant note. The company announced this morning that the monthly cash dividend is being increased to $0.04 cents from $0.035.

The 14.3% dividend increase is payable on October 31st for shareholders of record as of the 19th of this month.

As of this writing, the stock is trading in the $9.50 range which equates to a 5% yield based on an annualized cash dividend of $0.48.

This is the fourth monthly dividend increase since early 2011 and reflects the fact that management is exactly on target with its stated policy of delivering a 20% annual growth rate in the finance receivables portfolio.

To view the news release, click here....