CALGARY, Nov. 15, 2016 /CNW/ - Genesis Land Development Corp. (TSX: GDC) (the "Corporation" or "Genesis") announces that its Board of Directors has declared a special cash dividend of $0.25 per common share for a total of approximately $10.9 million payable to shareholders of record on December 9, 2016, and will be paid on December 22, 2016. The ex-dividend date for the special dividend is December 7, 2016.
The special dividend is designated as an eligible dividend under the Income Tax Act (Canada).
About Genesis
Genesis Land Development Corp. is a land developer and residential home builder in the Calgary Metropolitan Area. The Corporation's common shares are listed on the Toronto Stock Exchange (TSX: GDC).
SOURCE Genesis Land Development Corp.
Stephen Griggs, Interim Chief Executive Officer, Kirsten Richter, Interim Chief Financial Officer, 7315 - 8 Street NE Calgary AB T2E 8A2, P: 403-265-8079, Email [email protected], Website: www.genesisland.comCopyright CNW Group 2016