FirstService Declares Initial Quarterly Dividend on Common Shares
TORONTO, May 29, 2013 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX:FSV)
(Nasdaq:FSRV) (debentures: FSV.DB.U) ("FirstService") announced today that its
board of directors has declared an initial quarterly dividend on the
outstanding Subordinate Voting Shares and Multiple Voting Shares (together,
the "Common Shares") of FirstService of US$0.10 per Common Share. The dividend
is payable on July 10, 2013 to holders of Common Shares of record at the close
of business on June 28, 2013. The dividend is an "eligible dividend" for
Canadian income tax purposes.
About FirstService Corporation
FirstService Corporation is a global leader in the rapidly growing real estate
services sector, one of the largest markets in the world. As one of the
largest property managers in the world, FirstService manages more than 2.3
billion square feet of residential and commercial properties through its three
industry-leading service platforms: Colliers International, one of the largest
global players in commercial real estate services; FirstService Residential,
North America's largest manager of residential communities; and the Property
Services division, one of North America's largest providers of essential
property services delivered through company-owned operations, franchise
systems and contractor networks.
FirstService generates over US$2.3 billion in annual revenues and has more
than 23,000 employees worldwide. More information about FirstService is
available at www.firstservice.com.
Certain information included in this news release is forward-looking, within
the meaning of applicable securities laws. Much of this information can be
identified by words such as "believe", "expects", "expected", "will",
"intends", "projects", "anticipates", "estimates", "continues" or similar
expressions suggesting future outcomes or events. FirstService believes the
expectations reflected in such forward-looking statements are reasonable but
no assurance can be given that these expectations will prove to be correct and
such forward-looking statements should not be unduly relied upon.
Forward-looking statements are based on current information and expectations
that involve a number of risks and uncertainties, which could cause actual
results or events to differ materially from those anticipated. These risks
include, but are not limited to, risks associated with: (i) general economic
and business conditions, which will, among other things, impact demand for
FirstService's services and the cost of providing services; (ii) the ability
of FirstService to implement its business strategy, including FirstService's
ability to acquire suitable acquisition candidates on acceptable terms and
successfully integrate newly acquired businesses with its existing businesses;
(iii) changes in or the failure to comply with government regulations; and
(iv) such factors as are identified in FirstService's Annual Information Form
for the year ended December 31, 2012 under the heading "Risk Factors" (which
factors are adopted herein and a copy of which can be obtained at
www.sedar.com). Forward looking statements contained in this news release are
made as of the date hereof and are subject to change. All forward-looking
statements in this news release are qualified by these cautionary statements.
Except as required by applicable law, FirstService undertakes no obligation to
publicly update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
CONTACT: Jay S. Hennick
Founder & CEO
John B. Friedrichsen
Senior Vice President & CFO
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