TORONTO, ON, November 15, 2021 – Propel Holdings Inc. (“Propel” or the “Company”) (TSX: PRL) today announced that its board of directors has declared a dividend of CAD$0.095 per common share, payable on December 8, 2021 to shareholders of record as of the close of business on November 22, 2021. This dividend marks Propel’s first dividend declared as a public Company and is consistent with the dividend policy disclosed in its IPO prospectus dated October 13, 2021. The Company has designated this dividend as an eligible dividend within the meaning of the Income Tax Act (Canada).
Propel is an innovative, online fintech company, committed to credit inclusion by providing fair, fast and transparent access to credit with exceptional service using its proprietary online lending platform. Through its operating brands, MoneyKey and CreditFresh, Propel is focused on providing access to credit to the over 60 million underserved U.S. consumers who struggle to access credit from mainstream credit providers. Propel’s revenue growth and profitability have accelerated significantly over the past two years as Propel has been able to facilitate access to credit for an increasing number of consumers, helping them move forward in their credit journeys.
This news release contains “forward-looking information” within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Actual results could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and Propel does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Vice President, Compliance & Chief Compliance Officer (647) 776-5468