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.
FULL DISCLOSURE: Spruce Ridge Resources is a former client of Canacom Group, the parent company of The Deep Dive. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
