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CareRx Initiates Quarterly Dividend and Receives Regulatory Approval for Renewal of its Normal Course Issuer Bid
Newsfileยท2025-09-15 11:30

Core Viewpoint - CareRx Corporation has announced the initiation of a quarterly dividend and received regulatory approval for a normal course issuer bid to repurchase outstanding common shares, reflecting its commitment to robust cash generation and disciplined capital allocation [1][2]. Dividend Initiation - The Board of Directors declared a dividend of $0.02 per Common Share, payable on October 15, 2025, to holders of record as of September 23, 2025. This dividend is classified as an "eligible dividend" for Canadian income tax purposes [3]. Normal Course Issuer Bid (NCIB) - The TSX has approved CareRx's NCIB to repurchase up to 1,500,000 Common Shares, representing approximately 2.4% of the 62,925,219 Common Shares outstanding as of September 4, 2025. The NCIB aims to return capital to shareholders as part of the company's capital management strategy [4][5]. - The NCIB is expected to commence on September 17, 2025, and conclude on September 16, 2026, or earlier if completed or terminated by the company. The average daily trading volume for the six months ending August 31, 2025, was 39,300 Common Shares, allowing the company to purchase up to 9,825 Common Shares on any trading day [5][6]. Previous NCIB Performance - In the previous NCIB period from September 7, 2024, to September 6, 2025, CareRx purchased 672,984 Common Shares at a weighted average price of $2.49 per share [9]. Automatic Repurchase Plan - CareRx has established an automatic repurchase plan with its designated broker to facilitate share purchases under the NCIB, allowing purchases during periods when the company would not typically be active in the market [10].