Colliers International Group Inc. also announces adoption of dividend policy
TORONTO and SEATTLE, June 17, 2015 -- Colliers International Group Inc. (Nasdaq:CIGI) (TSX:CIG) ("Colliers") today announced the appointment of Katherine Lee to its Board of Directors. The Board also announced the adoption of a dividend policy.
Katherine Lee was appointed to the Board of Directors, and will also serve both as a member of the Audit & Risk Committee and the Executive Compensation Committee. A senior executive with General Electric for more than 20 years, Lee recently retired from her roles as President and Chief Executive Officer of GE Capital Canada. Previously Lee served as the President and Chief Executive Officer of GE Capital Real Estate Canada.
The Board of Directors also approved a dividend policy such that Colliers will pay semi-annual cash dividends to holders of Subordinate Voting Shares and Multiple Voting Shares (collectively, the "Common Shares") of record at the close of business on the last business day in June and December in each year. The semi-annual dividend is initially set at US$0.04 per Common Share (US$0.08 per annum). Each semi-annual dividend will be paid within 30 days after the dividend record date. The terms of the dividend policy remain, among other things, at the discretion of the Board of Directors. Future dividends on the Common Shares, if any, will depend on the results of Colliers' operations, cash requirements, financial condition, contractual restrictions, business opportunities, provisions of applicable law and other factors. The first dividend to be paid is for the six months ended December 31, 2015.
Katherine Lee Appointed to Board of Directors
Date Published: 06/17/2015