Stock Name: FNR
Amount: CAD 0.02
Announcement Date: 29/08/2011
Record Date: 13/09/2011
Dividend Detail:
TSX Venture Exchange symbol FNR
SASKATOON, SK, Aug. 29, 2011 /CNW/ - 49 North Resources Inc. ("49 North"
or the "Company") (TSXV: FNR) today declared aggregate cash dividends
of $0.02 on each common share outstanding, payable on or after
September 25, 2011 to shareholders of record at the close of business
on September 15, 2011. Subject to board of director approval, 49 North
intends to pay an ongoing quarterly dividend of $0.02 per common share.
With respect to the dividends declared, the Company currently carries a
balance in its low rate income pool, therefore only approximately
$0.0027 per share constitutes an "eligible dividend" for Canadian
income tax purposes. Shareholders with questions regarding the tax
treatment of dividends should consult their own tax advisors or contact
their local office of the Canada Revenue Agency and where applicable,
the provincial tax authorities.
49 North is a Saskatchewan focused resource investment company with
strategic operations in financial, managerial and geological advisory
services and merchant banking. Our diversified portfolio of assets
includes direct project involvement in the resource sector, as well as
investments in shares and other securities of junior and intermediate
mineral and oil and gas exploration companies. Additional information
about 49 North is available at www.sedar.com.
Forward Looking Information: This release contains forward-looking
information within the meaning of applicable Canadian securities
legislation. In particular but without limitation, this press release
includes references to the payment, timing and quantum of future
dividends. Forward-looking information involves known and unknown
risks, uncertainties and other factors that may cause actual results or
events to differ materially from those expressed or implied by such
forward-looking information, including the Corporation's financial
performance, liquidity, outlook and such other factors as the board of
directors of the Corporation determine to be relevant when considering
the approval of dvidends. In addition, the forward-looking information
contained in this release is based upon what management believes to be
reasonable assumptions. Readers are cautioned not to place undue
reliance on forward-looking information as it is inherently uncertain
and no assurance can be given that the expectations reflected in such
information will prove to be correct. The forward-looking information
in this release is made as of the date hereof and, except as required
under applicable securities legislation, 49 North assumes no obligation
to update or revise such information to reflect new events or
circumstances.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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