Canlan Sports Announces Special Dividend and Distribution Dates

Rhea-AI Summary

Canlan Sports (CNLFF) declared a special dividend of $0.50 per common share, payable on November 18, 2025 to shareholders of record at the close of business on October 31, 2025. This is the second special dividend in 2025 and, combined with the $0.50 special paid on August 15, 2025, results in a $1.00 per share return of capital to shareholders year-to-date. The Board described the payments as a way to return capital while preserving funds to grow the business. The special dividend is designated as an eligible dividend under the Income Tax Act (Canada), which may allow Canadian resident individuals to claim enhanced dividend tax credits.

Positive

• Special dividend of $0.50 per share declared
• Total return of $1.00 per share in 2025 from two special dividends
• Eligible dividend designation may provide enhanced tax credits for Canadian resident individuals

Negative

• Record date is October 31, 2025; shares must be held at close to qualify
• Payment date of November 18, 2025 creates a discrete cash outflow on that date
• Dividend is taxable for recipients subject to applicable tax rules despite eligible status

Burnaby, British Columbia--(Newsfile Corp. - October 16, 2025) - Canlan Ice Sports Corp. (TSX: ICE) ("Canlan") a leading sports and entertainment company, today announced that its Board of Directors (the "Board") has declared a special dividend to shareholders of $0.50 per common share. The special dividend will be paid on November 18, 2025 to common shareholders of record at the close of business on October 31, 2025.

"We are pleased to announce a second special dividend, this in combination with our first special dividend that was paid on August 15, 2025, will result in a return of capital to our shareholders of one dollar per share. These two dividends demonstrate our commitment to providing our shareholders with a return on their investment in Canlan, whilst ensuring that Canlan has the capital to continue to grow its business and make investments that enhance our customer experience," said Victor D'Souza, Chair of the Board.

The special dividend is designated as an "eligible" dividend under the Income Tax Act (Canada) and any corresponding provincial legislation. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits, which reduce income tax otherwise payable.

About Canlan

Canlan Sports is the North American leader in the operations and ownership of multi-purpose recreation and entertainment facilities. We are amongst the largest private sector owners and operators of recreation facilities in North America and currently own, lease and/or manage 15 facilities in Canada and the United States with 47 ice surfaces, as well as 10 indoor soccer fields, and 18 hard court surfaces. To learn more about Canlan please visit www.canlansports.com.

Canlan Ice Sports Corp. has proudly been listed on the Toronto Stock Exchange for over 35 years and the stock trades under the symbol "ICE."

For more information:

Canlan Ice Sports Corp.
Ivan Wu
CFO
604-736-9240

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270769

FAQ

What is the special dividend amount declared by Canlan Sports (CNLFF) on October 16, 2025?

Canlan declared a $0.50 per common share special dividend on October 16, 2025.

When will Canlan Sports (CNLFF) pay the special dividend and what is the record date?

The special dividend will be paid on November 18, 2025 to shareholders of record at the close on October 31, 2025.

How much total return have Canlan Sports (CNLFF) shareholders received from special dividends in 2025?

Shareholders will have received $1.00 per share in 2025 from two special dividends ($0.50 paid August 15 and $0.50 announced November 18).

Is the Canlan Sports (CNLFF) special dividend tax-advantaged for Canadian residents?

Yes; the dividend is designated as an eligible dividend, which may allow Canadian resident individuals to claim enhanced dividend tax credits.

Do investors need to own CNLFF shares by a specific date to receive the special dividend?

Yes; investors must be recorded as shareholders at the close of business on October 31, 2025 to receive the payment.

Will the November 18, 2025 payment of the special dividend affect Canlan Sports' ability to invest in growth?

The company stated the dividend was declared while ensuring Canlan retains capital to continue growing the business, indicating management intends to balance returns with investment needs.