Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
The bank increased its quarterly payment to shareholders by a penny to 67 cents per share.
The higher payment to shareholders came as Laurentian reported a fourth-quarter profit of $41.3 million or 90 cents per diluted share.
That compared with a profit of $50.8 million or $1.13 per diluted share in the same quarter last year.
On an adjusted basis, Laurentian says it earned $1.05 per diluted share for the quarter, down from an adjusted profit of $1.22 per diluted share a year ago.
Analysts on average had expected a profit of $1.16 per share, according to financial markets data firm Refinitiv.
-The Canadian Press
The REIT also announced that it has entered into an agreement to sell 6,870,000 units on a bought deal basis at a price of $11.65 each to a syndicate of underwriters for gross proceeds of approximately $80-million.
The amendment reduces the Sprott common shares paid to Tocqueville from common shares valued at US$5-million to common shares valued at US$2.5-million, the company stated. It also increases the cash payment to Tocqueville at closing from US$10-million to US$12.5-million.
“Given the recent correction in our share price, our strong balance sheet, and our ongoing normal course bid activity, we believe this adjustment is best for our long-term shareholders,” said Whitney George, president of Sprott.
Waterloo Brewing Ltd. (WBR-T) reported revenues for the third quarter of $16.3-million, up from $14.2-million in the third quarter of last year. Net income was $588,000 or 2 cents per share for the quarter ended Oct. 27 down from $1-million or 3 cents for the year-ago period.
The company also announced a 5-per-cent increase to the quarterly dividend to 2.625 cents per share up from 2.5 cents.
Ballard Power Systems (BLDP-Q; BLDP-T) announced a purchase order from Van Hool for its fuel cell modules to power buses in Groningen, the Netherlands. Ballard said the modules will power 20 Van Hool fuel cell electric buses.
“We are delighted to provide fuel cell power modules to Van Hool, a long-standing Ballard partner in Europe, as an important sign of continued progress in the deployment of zero-emission buses under the JIVE2 program,” Rob Campbell, Ballard’s chief commercial officer said in a release.
Organigram Holdings Inc. (OGI-T; OGI-Q) announced that it has established an at-the-market equity (ATM) program that allows the corporation to issue up to $55-million of common shares (= from treasury to the public from time to time at its discretion.
Organigram said it intends to use the net proceeds from the ATM program, if any, to fund capital projects, for general corporate purposes and to pay down debt.