APVI Board Approves Adoption of Dividend Policy

On August 13, 2020, the Board of Directors of Altus Property Ventures Inc. (PSE: APVI) approved the adoption of a dividend policy.

Under the dividend policy, the corporation intends to maintain an annual dividend payout ratio of at least 20% of the corporation’s recurring net income for the preceding fiscal year, subject to the requirements of applicable laws and regulations and the absence of circumstances which may restrict the payment of such dividends. The Board of Directors shall determine the dividend rate and may, at any time, modify such dividend rate.

APVI was formerly a wholly owned subsidiary of Robinsons Land Corp. (PSE: RLC) and an indirect subsidiary of JG Summit Holdings Inc. (PSE: JGS) through Robinsons Land. On December 20, 2019, APVI became a direct subsidiary of JG Summit by virtue of the property dividend distribution by Robinsons Land to its stockholders.