Skip to main content

George Tidball founded the Keg and paved the way for other casual fine dining restaurant concepts in Canada such as Earls, Milestones, Joey and Cactus Club Café.Deborah Baic/The Globe and Mail

Our roundup of Canadian small-caps making news and on the move today. This post will be updated through the morning.

The Keg Royalties Income Fund announced that it has increased its monthly cash distributions. The monthly distributions will increase 2.5 per cent from $0.08 per unit to $0.082 per unit beginning with the March 2015 distribution. This equates to an annualized distribution in excess of $0.98 per unit.

"This distribution increase is primarily attributable to continued strong same store sales growth at Keg Restaurants Ltd. The addition of new Keg restaurants into the Royalty Pool each year is also a factor," the company said in a statement.

For the most recent quarter ended December 28, 2014, the Keg recorded same-store sales growth of 5.7 per cent.

=====

Domtar Corp. announced that its board approved a 7 per cent increase to its quarterly dividend, from $0.375 per share to $0.40 per share, on its common stock.

The board also authorized an increase of $300-million in Domtar's share buyback program. This is in addition to the company's prior $1- billion repurchase authorization, under which approximately $83-million remained available as of December 31, 2014.

"Our new share repurchase program and dividend increase reflect our confidence in our continuing ability to generate earnings growth and cash flow in the future," said CEO John D. Williams. "We will continue to pursue a balanced approach to the deployment of our capital, while maintaining the flexibility to execute on our growth strategy."

=====

Slate Retail REIT announced that it has entered into a binding agreement to purchase Roxborough Marketplace, an 88 per cent occupied, 107,818 square foot grocery-anchored shopping centre located in Littleton, Colorado, for $15.62-million (U.S.).

======

PC Gold Inc. announced it has established an independent special strategic committee that will evaluate "strategic alternatives" for the company's Pickle Crow project located in Ontario's Patricia Mining Division.

"The (committee) has not established a definitive timeline for its strategic review process; however, it intends to assess all available alternatives and opportunities over the next few months. PC Gold is currently in general discussions with various parties about potential transactions involving the Company and its Pickle Crow gold project," the company said.

======

Western Lithium USA Corp. announced that it has produced 99.8 per cent high quality lithium carbonate in its first trial run while commissioning its demonstration plant in Germany.

Western Lithium has processed 75 tons of material, using oxidized ores from its Nevada property, through a calcination plant in Weimar, Germany, at a rate of 12 tons per day.

"Over the past 18 months, Western Lithium has completed the permitting, construction, and first product sales of our Hectatone business located in Nevada. The lithium market now appears ready for Western Lithium to accelerate the development of its Nevada lithium deposit as a new major supply source," the company said in a statement.

======

CT Real Estate Investment Trust said its funds from operations for the fourth quarter and full year was $46.5-million or $0.256 per unit and $176.8-million or $0.979 per unit respectively, $4.2-million and $7.4-million higher than forecast.

======

Tweed Marijuana Inc. said it has entered into an agreement to raise $20-million in a bought deal of 9.3-million common shares at a price of $2.15 per share. The company said it intends to use the proceeds for facilities expansion and general corporate purposes.

======

Cott Corp. generated fourth-quarter earnings of $0.37 (U.S.) per share, marking a substantial increase over the prior year, partly as a result of recent acquisitions. In December, Cott acquired DSS Group Inc. for $1.25-billion in a bid to diversify beyond the private-label soft drink business. "During the quarter we saw the benefits of our diversification strategy, with global revenue increasing as a result of a 110-per-cent growth in North American contract manufacturing volumes, the addition of Aimia Foods in the U.K. as well as DS Services in the U.S., coupled with a slightly less aggressive national brand promotional environment," said Jerry Fowden, Cott's CEO. "Our improving revenue trend and the top line stability of our traditional business, alongside the transformative acquisition of DS Services, has better positioned our business as we look to 2015 and beyond," continued Jerry Fowden. For the quarter ended Jan. 3, Cott posted revenue of $544-million, which was a 13-per-cent increase year over year, and net income of $18.7-million compared to an $11.2-million loss in the prior year period.

======

Dividend Select 15 Corp. said it completed an overnight marketing of up to 1.7-million shares, which is expected to generate proceeds of about $17.6-million. The equity shares of the company, which invests in a portfolio of 15 Canadian companies whose shares offer an attractive dividend yield, will be offered at $10.35 per share to yield 10 per cent, the company said.