Stock Name: CFN
Amount: CAD 0.03
Announcement Date: 09/03/2012
Record Date: 16/03/2012
Dividend Detail:
TSX: CFN
EDMONTON, March 9, 2012 /CNW/ - Carfinco Financial Group Inc.
("Carfinco" or the "Company") announces that a cash dividend of 3.0
cents per share has been declared for March 2012, with a payable date
of March 30, 2012, to shareholders of record on March 20, 2012.�� The
ex-distribution date is March 16, 2012.
The Company has also entered into an interest rate swap agreement with a
notional amount of $100,000,000, a fixed bankers' acceptance rate of
1.55% and a three year term that ends on March 9, 2015.�� Carfinco
regularly monitors our interest rate swap position to minimize our
exposure to interest rate risk.
"Entering into this swap agreement is beneficial for both the Company
and its shareholders as it reduces the business risk of increasing
interest rates on $100 million of our senior debt over the next three
years," stated Tracy Graf, CEO of Carfinco.
About Carfinco Financial Group Inc.
Carfinco focuses on providing consumer vehicle loans to borrowers unable
to obtain financing through traditional lending sources.�� A network of
select independent and franchise dealerships offer Carfinco's payment
plan to their customers who must, along with the vehicle, meet
Carfinco's underwriting guidelines. The shares of the Company trade on
The Toronto Stock Exchange under the symbol "CFN".
Caution Regarding Forward-Looking Statements - This news release
contains certain forward-looking statements, including statements
regarding the business and anticipated financial performance of the
Company.�� These statements are subject to a number of risks and
uncertainties.�� Actual results may differ materially from results
contemplated by the forward-looking statements.�� When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other uncertainties
and should not place undue reliance on such forward-looking statements.
For further information:
Mr. Tracy A. Graf��
CEO & Director of Carfinco Financial Group Inc.��
Telephone:��1-888-486-4356��
Facsimile:��1-888-486-7456��
E-mail:��tracy.graf@carfinco.com��
Web site:��www.carfinco.com
The Howard Group Inc.
Jeff Walker / Dave Burwell
Investor Relations
Telephone:��1-888-221-0915
E-mail:��Info@howardgroupinc.com
Web site: ��www.howardgroupinc.com
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