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Gold/Mining/Energy : Home Capital Group (HCG.B-TSE) -- Ignore unavailable to you. Want to Upgrade?

To: DaveAu who wrote (7)	2/24/1999 9:49:00 PM
From: DaveAu	Read Replies (1) \| Respond to of 65

Home Capital Group Inc. announces dividend TORONTO, Feb. 23 /CNW/ - The Board of Directors of Home Capital Group Inc. (TSE : HCG.B) today approved a dividend policy under which it intends to pay a quarterly dividend at the rate of 1.5 cents per share on the outstanding convertible Class A shares and Class B subordinated voting shares of the Company which is equivalent to an annual rate of 6 cents per share. The first dividend will be payable on May 14, 1999 to shareholders of record on the close of business on April 19, 1999. Mr. Gerald M. Soloway, CEO of Home Capital Group Inc. stated, ''The dividend decision was based on the strong cash flow from operations and the quality of the balance sheet that permit the Company to pay this level of dividend and still meet all growth targets and maintain the highest level of regulatory compliance. The dividend is both a statement of financial strength and a further commitment to the enhancement of long term value of the investment in the Company for our shareholders.'' Home Capital Group Inc. is a holding company, publicly traded on the Toronto Stock Exchange (HCG.B), operating thorough its principal subsidiary, Home Savings & Loan Corporation. Home Savings & Loan was incorporated in 1977 and is a regulated financial institution that offers deposit and mortgage lending services. The Company's service area is primarily Ontario and has recently expanded into Western Canada.