On November 11, 2014, the Board of Directors approved a monthly dividend of $0.02 per share on the common shares of the Company, payable on December 19, 2014 to shareholders of record on December 12, 2014. The dividend has continued on a monthly basis since that time.
This dividend qualifies as an “eligible dividend” for Canadian income tax purposes. Pursuant to tax legislation enacted in 2007, Canadian resident individuals who receive “eligible dividends” will be entitled to an enhanced gross-up and dividend tax credit on such dividends.
The Company plans to continue this monthly dividend subject to Board discretion.
Dividend Reinvestment Plan
In August 2016, Tahoe’s Board of Directors approved the introduction of a dividend reinvestment plan (“DRIP”). As a result, effective October 20, 2016, eligible shareholders may elect to purchase additional common shares of Tahoe by reinvesting their cash dividends. Participation in the DRIP is optional and will not affect the cash dividends of shareholders electing not to participate in the DRIP. Dividends are payable only when declared by Tahoe’s Board of Directors. Key features of the DRIP are provided below with full details available by clicking on Dividend Reinvestment Plan. A link to the Enrollment Form is also provided below.
- Commission Free – Shareholders will NOT pay any costs or commissions in connection with purchases of common shares under the DRIP.
- Discount – Common shares issued from treasury under the DRIP will be issued at a discount of 3% to the Average Market Price (see Dividend Reinvestment Plan link above for more details).
- Fractional Shares – Whole and fractional shares will be a credited to the accounts of shareholders participating in the DRIP.
- Participation Rights – Shareholders can elect to participate or cease to participate in the DRIP from time to time.
- Statements – Statements of account will be mailed to Participants after each dividend payment date.
- Limitations – Tahoe may limit the number of common shares that may be issued under the DRIP.
- Taxation – Reinvestment of cash dividends under the DRIP does not affect a Participant’s tax liability in respect of any such dividend, which remains with the Participant.