Spruce Ridge Resources (TSXV: SHL) is looking to provide its shareholders with a dividend. The company this morning announced that it will be providing another dividend to its shareholders that consists of Canada Nickel Company (TSXV: CNC) shares.
The dividend follows a similar action taken by the company back in September 2020, whereby the company issued 2,500,000 shares of the nickel explorer in a special dividend to its shareholders. The current round of dividends will follow much of the same format, with a further 2,500,000 Canada Nickel shares to be issued to shareholders of the company.
The dividend is to be made on September 3, 2021, to shareholders of record as of August 6, 2021. The dividend is to be issued on a pro rata basis, with no fractional shares issued. The company currently anticipates issuing one share of Canada Nickel for every 64.92 shares of Spruce Ridge held as of the record date.
Following the dividend, Spruce Ridge is expected to hold a total of 5.6 million common shares of Canada Nickel.
Spruce Ridge Resources last traded at $0.14 on the TSX Venture.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.