| |

Hammond Power Solutions Increases Quarterly Dividend

September 19, 2023

Hammond Power Solutions Increases Quarterly Dividend

The Board of Directors of Hammond Power Solutions Inc. (“HPS”) declared a quarterly cash dividend of fifteen cents ($0.15) per Class A Subordinate Voting Share of HPS and a quarterly cash dividend of fifteen cents ($0.15) per Class B Common Share of HPS payable on September 22, 2023, to shareholders of record at the close of business on September 15, 2023. The ex-dividend date is September 14, 2023.

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 that involve a number of risks and uncertainties, including statements that relate to among other things, HPS’s strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by 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. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements.

Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates); changes in laws and regulations; legal and regulatory proceedings; and the ability to execute strategic plans. HPS does not undertake any obligation to update publicly or to revise any of the forward looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.

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 – passionate people energizing a better world.

Source

Related Story

Hammond Power Solutions Unveils Global Rebranding

Hammond Power Solutions (HPS) has unveiled a new brand identity. This is a significant milestone for HPS as it enters a new era of opportunity and growth.

Related Articles



Editor’s Pick: Featured Article

Weidmüller’s u-control 2000: The Automation Controller

Weidmüller’s u-control 2000: The Automation Controller

Weidmüller’s scalable engineering software, u-control 2000, adapts individually to your requirements. And, the u-control is powerful, compact and fully compatible with Weidmüller’s I/O system u-remote. This article looks at what makes u-control the heart of your automation.

Programmable logic controllers (PLCs) are one of the main components of any automated system. A typical control system has inputs, outputs, controllers (i.e., PLCs), and some type of human interaction with the system, a human machine interface (HMI), for example.

Read More



Latest Articles

  • The Drive Towards Energy-Efficient Data Centres

    April 17, 2024 By Shahrukh Ashhar Data centres are the backbone of our digital world. They serve as the foundation for various online activities like streaming, e-commerce, and website/app usage. In today’s tech-driven world, our attention is actively captured by our online activities, all of which heavily depend on data centres. The demand for storage… Read More…

  • ABB’s Expansion Joint System Helps Expand Sustainable Transportation Possibilities

    How two feet is helping connect Canada’s new automated light rail transit network April 17, 2024 Engineering ingenuity for robust infrastructure ABB is proud to have designed and produced the expansion joint system used on the Champlain Bridge section of the REM, Montreal. Canada is considered to have one of the best developed infrastructures in… Read More…