on Vox Royalty Corp. (isin : CA92919F1036)
Vox Royalty Corp. Initiates Dividend Reinvestment Plan and Announces Share Repurchase Program
Vox Royalty Corp. (TSX:VOXR)(NASDAQ:VOXR), focusing on mining royalty returns, announced the adoption of a Dividend Reinvestment Plan (DRIP) along with the approval of a Share Repurchase Program (SRP) by its Board of Directors. The DRIP allows eligible shareholders to reinvest cash dividends into additional common shares without brokerage commissions. Shares under DRIP will be issued at a 5% discount to the Average Market Price. The DRIP applies from the Q1 2024 dividend, requiring enrollment by March 21, 2024, for registered shareholders. Participation is optional and initially unavailable to U.S. residents. Information for enrolment is provided on the company's website.
Additionally, Vox's Board approved an SRP to repurchase up to US$1,500,000 of its common shares. The SRP is structured to comply with Rule 10b-18 under the Securities Exchange Act of 1934, with repurchases made at management’s discretion based on market conditions. These repurchases may occur through open market transactions, negotiated transactions, or other legal means in the U.S., demonstrating Vox's commitment to shareholder value. This strategic move may be suspended or discontinued at any time based on further managerial decisions or market dynamics.
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