DIVIDENDS
The declaration, timing, amount and payment of dividends are at the discretion of the Board of Directors and will depend upon the Company’s future earnings, cash flows, acquisition capital requirements and financial condition, and other relevant factors. There can be no assurance that the Company will declare a dividend on a quarterly, annual or other basis.
| Record Date | Payable Date | Amount |
|---|---|---|
| October 21, 2022 | November 4, 2022 | $0.01/common share |
| December 30, 2022 | January 13, 2023 | $0.01/common share |
| March 31, 2023 | April 14, 2023 | $0.011/common share |
| June 30, 2023 | July 14, 2023 | $0.011/common share |
| September 29, 2023 | October 13, 2023 | $0.011/common share |
| December 29, 2023 | January 12, 2024 | $0.011/common share |
| March 29, 2024 | April 12, 2024 | $0.012/common share |
| June 28, 2024 | July 12, 2024 | $0.012/common share |
| September 27, 2024 | October 11, 2024 | $0.012/common share |
| December 31, 2024 | January 14, 2025 | $0.012/common share |
DIVIDEND REINVESTMENT PLAN
The Company has implemented a dividend reinvestment plan ("DRIP") in order to permit eligible shareholders of record to receive shares at a discount instead of cash following the declaration of common share dividends. For more information, please see the Company's press release dated March 18, 2024 available here. Please note that, as of August 30, 2024, the Company changed its transfer agent from TSX Trust Company to Odyssey Trust Company, and therefore all communications regarding the DRIP should now be directed to Odyssey Trust Company using the contact information set out below.
Unless otherwise amended by the Board of Directors or announced by the Company, funds reinvested under the DRIP will be by way of Treasury Acquisitions, as defined in the DRIP, and will be issued with a 5% discount to the Average Market Price, as defined in the DRIP.
Registered holders may submit enrolment forms to [email protected]. Non-registered beneficial shareholders who wish to participate in the DRIP should contact their financial advisor, broker, investment dealer, bank or other financial institution that holds their common shares to inquire about the applicable enrolment deadline and to request enrolment in the DRIP.
Copies of the full plan document, as well as a DRIP Enrolment Form, are linked below. For more information on how to enroll or any other inquiries, please contact [email protected].
DIRECT DEPOSIT
A Direct Deposit option is in place to provide shareholders who have Canadian bank accounts with a method of receiving cash dividends as a direct deposit into their bank account.
TAX
CANADIAN INCOME TAX
Dividends paid on common shares are designated as eligible dividends for Canadian income tax purposes. If you have any questions regarding the taxation of eligible dividends, please contact your Canadian tax advisor or your local office of the Canada Revenue Agency.
NON-RESIDENT TAX
Shareholders who are not residents of Canada for income tax purposes are encouraged to seek advice from a qualified tax advisor in their country of residence regarding the tax treatment of dividends.
NON-RESIDENT WITHHOLDING TAX
Dividends paid or payable to non-residents of Canada are subject, on the date of payment, to a withholding tax of 25%, as prescribed by the Income Tax Act (Canada). This withholding tax may be reduced in accordance with reciprocal tax treaties. In the case of the Tax Treaty between Canada and the U.S., the withholding tax for U.S. residents is prescribed at 15%.
Vox encourages all non-resident shareholders holding shares directly on the company’s register (as opposed to through an intermediary such as CDS & Co.) to complete the Canada Revenue Agency’s Form NR301 and return the completed form to [email protected] in order for Vox’s transfer agent, TSX Trust, to apply the correct amount of withholding prior to payment of dividends. For more information, please visit the Canada Revenue Agency’s website here.