Hammond Power Solutions Declares Quarterly Dividend
GUELPH, Ontario, June 09, 2025 (GLOBE NEWSWIRE) -- (TSX: HPS.A) The Board of Directors of Hammond Power Solutions Inc. ('HPS') declared a quarterly cash dividend of twenty-seven and a half cents ($0.275) per Class A Subordinate Voting Share of HPS and a quarterly cash dividend of twenty-seven and a half cents ($0.275) per Class B Common Share of HPS payable on June 27, 2025, to shareholders of record at the close of business on June 20, 2025. The ex-dividend date is June 20, 2025.
Important Income-Tax Information for Canadian Resident Shareholders
HPS designates the entire amount of this taxable dividend to be an 'eligible dividend' for purposes of the Income Tax Act (Canada), as amended from time to time. This notice meets the requirements of the Income Tax Act (Canada). Please contact your tax advisor if you have any questions with regard to the designation of the eligible dividend.
Caution Regarding Forward-Looking Information
This press release contains forward-looking statements, which are not guarantees or assurances of future performance. Because forward-looking statements are related to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Forward-looking statements can generally be identified, but not limited to, the use of words such as 'may', 'will', 'could', 'should', 'would', 'likely', 'expect', 'intend', 'estimate', 'anticipate', 'believe', 'plan', 'objective' and 'continue' and words and expressions of similar import. Although HPS believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. The declaration, timing, amount and payment of any future dividends remains at the discretion of HPS' Board of Directors. HPS undertakes no obligation to publicly update any forward-looking statement, except as required by applicable securities laws.
ABOUT HAMMOND POWER SOLUTIONS INC.
Hammond Power Solutions Inc. ('HPS' or the 'Company') enables electrification through its broad range of dry-type transformers, power quality products and related magnetics. HPS' standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The Company has manufacturing plants in Canada, the United States (U.S.), Mexico and India and sells its products around the globe. HPS shares are listed on the Toronto Stock Exchange and trade under the symbol HPS.A.
Hammond Power Solutions – Energizing Our World
For further information, please contact:
David FeickInvestor Relations(519) 822-2441 x453ir@hammondpowersolutions.comSign in to access your portfolio
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
an hour ago
- Miami Herald
McDonald's surprises fans with cryptic message
If you thought buying tacos at a burger chain or tires at a grocery store was already odd enough, this latest launch is even more unexpected. For many years, restaurant and retail chains have diversified their offerings by expanding their assortment into new markets to turn their businesses into one-stop shops, making it more convenient for consumers to get their necessities in a single spot. Don't miss the move: Subscribe to TheStreet's free daily newsletter Some have succeeded at this diversification strategy, including Walmart's (WMT) wide range of product categories and Jack in the Box's (JACK) tacos. However, others have unfortunately failed, throwing a huge chunk of their yearly investing allowance straight into the trash and getting no profits in return. Related: McDonald's menu adds new happy meal fans will love McDonald's has seen a sales slump over the last few quarters, which led it to invest in developing new menu items. In March, McDonald's introduced the new Restaurant Experience Team and created three new global Category Management teams to drive product innovation. As odd as it may sound, McDonald's (MCD) used to sell pizza at its national restaurants. McDonald's began offering the McPizza in the late 1980s at its U.S. locations. But because the preparation was too tricky and the demand was too low, it was discontinued in the 1990s and removed from the regular menu. Related: McDonald's brings back unexpected breakfast item after 6 years Then in 2023, the fast-food chain launched Pizzerotti, small pizza pockets, at all its Italian locations. However, the demand may not have been as expected, since the food item is no longer available. McDonald's has not given up on adding pizza to its menu, because it's still available at its largest location in Orlando, Florida. And the chain may soon offer pizza in another market. McDonald's recently sent a cryptic message to its fans via an Instagram post containing an image that featured a notebook with the word "Classified" and the date "06-24-2025" printed on top. The caption didn't explain much, either, stating, "I'm not allowed to show u what's inside yet. But if u wanna zoom in and guess, there's literally nothing I can do about it." Upon zooming in on the image, the words "Pizza Bites" and a picture of little pizza pockets that look similar to Italy's discontinued Pizzerotti can be partially seen. More Food News: McDonald's menu adds new collaboration with surprising partnerTaco Bell adds new beverages to hop on viral fast-food trendStarbucks brings back fan-favorite menu item after 2-year hiatus McDonald's has not officially announced that it will launch pizza bites on its menu, but they will likely become available starting June 24. However, there's a catch to this launch. The fast-food giant only made this post on its Canadian Instagram account, which could mean that the menu item will only be available at its Canadian locations. Although the news might disappoint Americans, if the launch is successful in Canada, the pizza bites could launch in the U.S. as well. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
an hour ago
- Yahoo
David Rosenberg: How did the Canadian market hit a new record? Gold exposure has helped
Despite a flurry of twists and turns in the constantly evolving tariff saga, a period of relative calm has ensued after the chaos of tariff announcements and the early April market selloff, triggered by 'Liberation Day.' As the third-largest trading partner of the United States, Canada has fared relatively well after being excluded from the Liberation Day tariffs and having Canada-United States-Mexico Agreement-compliant products excluded from the 25 per cent 'fentanyl' tariffs. Helped by the 90-day tariff reprieve, set to expire July 9, the ongoing constructive tone in tariff negotiations helped the Canadian cyclical bucket, as industrials (driven by another tailwind explained below) and financials performed well during this timeframe. It was a complete reversal of what we experienced in February and March, when market sentiment was dominated by the height of tariff fears and defensive plays (such as dollar stores and utilities) were outperforming. So much so that we saw both the S&P/TSX industrials index and the S&P/TSX financials index post double-digit returns during these 17 trading days — a nice juicy return from a sector rotation perspective. To a large extent, what investors liked in the latest banking sector reporting season was the move to get ahead of the consumer delinquency cycle and sharply bolster loan loss reserve provisioning. In turn, this helped the overall Canadian benchmark, given its relative valuation support, namely, trading at about a 16x forward P/E multiple versus more than 21x for the S&P 500. From a sector-positioning perspective, another crucial pillar of strength was derived from the gold miners' price performance, boosted by the recent rally in gold prices to around US$3,400 per ounce and up nearly 30 per cent year to date. In contrast to the S&P 500, which has but one miner in the index (Newmont Corp.), which accounts for 0.1 per cent of the market cap, Canada is replete with 27 members that comprise a much higher 8.9 per cent share of the S&P/TSX composite index. The exposure the Canadian index has to precious metals is so precious that the sector has been responsible for half of the 7.3 per cent advance so far in 2025. Gold has continued to benefit from the convergence of structural tailwinds, such as the global monetary debasement, sovereign fiscal largesse and its traditional role as a macro hedge against geopolitical uncertainty. Rising bullion prices, combined with still relatively low valuations for the gold miners, have provided extra torque to the positive contribution by the materials sector during this timeframe. A case in point is Newmont, the largest miner by market capitalization, which trades at a 13x NTM P/E, vs. its five-year historical average of 20x. According to CIBC Capital Markets, mining has accounted for approximately 40 per cent of new Canadian issuances on a year-to-date basis. Consequently, this strong price performance from the precious metals sector (comprising about 11 per cent of the S&P/TSX composite) has resulted in underweight generalist funds adding exposure. Additionally, ongoing gold purchases by central banks and governments have continued to support gold prices and mining shares. According to Goldman Sachs Group Inc., global central banks are buying 80 metric tons of gold monthly, and sovereign wealth funds are collectively acquiring 1,000 tons annually — about a quarter of yearly global production. We remind you that these strategic market players are long-term investors who happen to be price-indiscriminate. On April 28, Prime Minister Mark Carney's Liberal Party formed a minority government in a remarkable comeback from early polling deficits. The global investing community took an optimistic view that he can reinvigorate the Canadian economy and navigate a challenging diplomatic environment with its neighbour south of the 49th parallel. During the campaign, the Liberals proposed an activist fiscal agenda that set out nearly $130 billion in new spending initiatives spread over several important themes, including infrastructure building, defence spending, housing affordability, internal trade and economic development, and the fast-tracking of resource project development. One can see that the central theme here is to pivot Canada towards domestic economic resilience after relying on a deepening U.S. relationship for 80 years. Moreover, Carney proved his ability to be firm yet diplomatic in his first meeting with U.S. President Donald Trump, and that may reflect early signs of tensions thawing between Washington and Ottawa. From a stock market perspective, this percolated into a strong showing for the S&P/TSX capped industrials index, which includes select engineering and consulting (E&C), infrastructure and aerospace and defence stocks, posting an increase of approximately 10 per cent. In the famous words of Walter Wriston, 'Capital goes where it is welcome and stays where it is well treated.' In this sense, both domestic and foreign investors took notice and started pricing the change in leadership as a catalyst for streamlining permitting processes, accelerating infrastructure approvals and reducing regulatory friction — key enablers of capital investment and long-term earnings growth. In the aftermath of Trump's tariff announcements and threats to annex Canada as the 51st state, Canadians exhibited a collective push to support domestic products and services, strengthen local businesses and reduce reliance on foreign imports. According to Statistics Canada, air travel to the south of the border posted a drastic 24 per cent year-over-year decrease in May. Travel by land fared even worse, posting a 38 per cent year-over-year decline in the same period, marking the fifth consecutive month of declines versus the prior year. This meant that more Canadians were spending money at home, buying into the Buy Canadian theme, and providing a boost to domestic retailer margins in the process. At the company-specific level, we heard an apparent read-through of this economically nationalistic trend from Loblaw Cos. Ltd., which reported a 12 per cent uptick in sales of Canadian-made products. In the company's first-quarter earnings call, one of the key takeaways was when chief executive Per Bank said, 'Canadians care deeply about the region of the product they purchase and we continue to actually seek out Canadian manufacturers for the products we sell.' Additionally, he emphasized that data from Loblaw's online grocery service showed a clear pivot by shoppers towards the Buy Canadian theme via both shopping intentions and actual dollars spent. A case when the soft data were actually in sync with the hard data! We heard similar management commentary from the likes of Metro Inc. and George Weston Ltd., with Metro saying that 'sales of Canadian products (are) outpacing total sales.' From an equity market perspective, we saw this theme play out in the price performance of the S&P/TSX consumer staples index, which was up by 10.6 per cent, and acted as another fundamental pillar of strength that has helped the S&P/TSX composite wipe out its losses following April's global nosedive. All in, a confluence of fundamental factors pushed the S&P/TSX composite to become one of the first global benchmarks to get back to its pre-'Liberation Day' levels. Thus, the Canadian benchmark has benefitted from sectoral composition and a cyclical/value bent, an economically nationalistic trend that buoyed domestic retail and a newly elected government with a pro-growth fiscal playbook. Global markets have added a new term to the investing lexicon: The Great White Long Trade. Surprise job gains in Canada conceal economic rot Bank of Canada has made a big mistake The Canadian market has unique characteristics compared to the U.S. in that it generates far greater dividend and earnings yields. The relative valuations in the Canadian stock market remain compelling: you get paid to take on equity risk when you compare it to the alternatives in cash and bonds. The same cannot be said for U.S. markets. David Rosenberg is founder and president of independent research firm Rosenberg Research & Associates Inc. Alp Erdogan is an external research consultant there. To receive more of David Rosenberg's insights and analysis, you can sign up for a complimentary, one-month trial on the Rosenberg Research website.
Business Wire
an hour ago
- Business Wire
Imperial renews annual normal course issuer bid
CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has received final acceptance from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB) to repurchase up to five percent of its 509,044,963 outstanding common shares as of June 15, 2025, or a maximum of 25,452,248 shares during the next 12 months. This maximum will be reduced by the number of shares purchased from ExxonMobil, Imperial's majority shareholder, as described below. The new one-year program will begin on June 29, 2025, and will end should the company purchase the maximum allowable number of shares, or on June 28, 2026. Imperial has established an automatic share purchase plan with its designated broker to facilitate the purchase of common shares, both from public shareholders and from ExxonMobil, during times when Imperial would ordinarily not be permitted to purchase due to regulatory restrictions or self-imposed black-out periods. Before entering a black-out period, Imperial may, but is not required to, instruct the broker to make purchases under the NCIB based on parameters set by Imperial in accordance with the share purchase plan, TSX rules and applicable securities laws. The plan has been pre-cleared by the TSX and will be implemented effective June 29, 2025. Consistent with the company's balance sheet strength, low capital requirements and strong cash generation, this announcement reflects the company's priority and capacity to return cash to shareholders. The NCIB represents a flexible and tax-efficient way of distributing surplus liquidity to shareholders who choose to participate by selling their shares. In addition, the NCIB will be used to eliminate dilution from shares issued in conjunction with Imperial's restricted stock unit plan. ExxonMobil will be permitted to sell its shares to Imperial under the NCIB in order to maintain its proportionate share ownership at approximately 69.6 percent. ExxonMobil advised Imperial that it intends to participate, as it has in prior years, and has established an automatic share disposition plan to facilitate the sale of its shares. All share purchases will be made through the Toronto Stock Exchange and alternative trading systems in Canada. Shares purchased under the NCIB are cancelled and restored to the status of authorized but unissued shares. As of the close of business on June 15, 2025, Imperial has 509,044,963 issued and outstanding common shares. The average daily trading volume of Imperial's common shares over the six calendar months prior to the date of this announcement was 868,310 shares per day. Imperial's daily purchase limit under the new program for shares held by shareholders other than ExxonMobil will be 217,077 shares, which represents 25 percent of the average daily trading volume. The acceptance marks the continuation of Imperial's most recent normal course share repurchase program that was completed on December 19, 2024. Under the most recent program, the company purchased the maximum 26,791,840 shares that were available, with 8,144,739 shares purchased on the open market and a corresponding 18,647,101 shares purchased from ExxonMobil to maintain its proportionate share ownership at 69.6 percent, representing a total cost of about $2,681 million and an average cost of $100.06 per share. Cautionary statement: Statements of future events or conditions in this release, including projections, expectations and estimates are forward-looking statements. Forward-looking statements in this release include references to the company's low capital requirements, strong cash generation, and priority and capacity to return cash to shareholders; and ExxonMobil's intention to participate concurrent with the NCIB. Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual future financial and operating results, including expectations and assumptions concerning future energy demand, supply and mix; commodity prices, foreign exchange rates and general market conditions; the ability to offset any ongoing or renewed inflationary pressures; capital and environmental expenditures; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies; production rates, growth and mix across various assets; project plans, timing, costs, technical evaluations and capacities and the company's ability to effectively execute on these plans and operate its assets; the degree and timeliness of support that will be provided by policymakers and other stakeholders for various new technologies such as carbon capture and storage; receipt of regulatory and third-party approvals in a timely manner; and applicable laws and government policies including with respect to climate change, greenhouse gas emissions reductions and low carbon fuels, could differ materially depending on a number of factors. These factors include global, regional or local changes in supply and demand for oil, natural gas, petroleum and petrochemical products, feedstocks and other market factors, economic conditions or seasonal fluctuations and resulting demand, price, differential and margin impacts, including Canadian and foreign government action with respect to supply levels, prices, trade tariffs, trade sanctions or trade controls, the occurrence of disruptions in trade or military alliances, or a broader breakdown in global trade; political or regulatory events, including changes in law or government policy, applicable royalty rates, and tax laws including taxes on share repurchases; environmental regulation, including climate change and greenhouse gas regulation and changes to such regulation; failure, delay, reduction, revocation or uncertainty regarding supportive policy and market development for the adoption of emerging lower-emission energy technologies and other technologies that support emissions reductions; the receipt, in a timely manner, of regulatory and third-party approvals, including for new technologies relating to the company's lower emissions business activities; availability and allocation of capital; availability and performance of third-party service providers including those located outside of Canada; management effectiveness and disaster response preparedness; unanticipated technical or operational difficulties; cybersecurity incidents including incidents caused by actors employing emerging technologies such as artificial intelligence; operational hazards and risks; currency exchange rates; general economic conditions; and other factors discussed in 'Item 1A Risk factors' and 'Item 7 Management's discussion and analysis of financial condition and results of operations' in Imperial's most recent annual report on Form 10-K. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial. Imperial's actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law. Source: Imperial After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada's energy resources. As Canada's largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.
