Clairvest Group announces $75.33M special dividends ($5/share)

CPE News (10/30/2020) – Clairvest Group Inc. (TSX: CVG) has announced one-time special dividend of $5.00 per common share for approximately $75.33 million in aggregate. The dividend is an eligible dividend for Canadian income tax purposes. The dividend will be payable to common shareholders of record as of November 9, 2020 and will be paid on November 23, 2020.

Clairvest Group reported cash and treasury investments of approximately $470 million as of September 30, 2020.

Kenneth B. Rotman, CEO & Managing Director, together with a family trust, controls approximately 7.65 million common shares (50.8%) and is eligible for $38.26 million. Gerald R. Heffernan and family will receive approximately $9.65 million in payout.

The directors of Clairvest, excluding Rotman, collectively will receive approximately $15.83 million in dividend payout.

Clairvest has also announced the appointment of Anne Mette de Place Filippini, Chief Investment Officer of Burgundy Asset Management Ltd., to its board of directors. De Place Filippini will join Rotman, John Barnett, Michael Bregman, Joseph E. Fluet, III, Joseph J. Heffernan, G. John Krediet, B. Jeffrey Parr, Lionel H. Schipper, Isadore Sharp, Michael Wagman, and Rick Watkin on the Clairvest board.

Founded in 1987, Clairvest is a private equity management firm with over $2.4 billion of capital under management. Clairvest invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in owner-led businesses.

photo credit: Clairvest Group

News Release

Clairvest Announces $5.00 per Share Special Dividend and Addition of Anne Mette de Place Filippini to Its Board of Directors

October 30, 2020 07:00 ET | Source: Clairvest Group Inc.

TORONTO, Oct. 30, 2020 (GLOBE NEWSWIRE) — Clairvest Group Inc. (TSX:CVG) (“Clairvest”) is pleased to announce a one-time special dividend of $5.00 per common share (approximately $75 million in aggregate). The dividend is an eligible dividend for Canadian income tax purposes. The dividend will be payable to common shareholders of record as of November 9, 2020 and will be paid on November 23, 2020. Cash and treasury investments as of September 30, 2020 was approximately $470 million.

Clairvest is also pleased to announce the appointment of Anne Mette de Place Filippini to its Board of Directors. Ms. De Place Filippini is the Chief Investment Officer of Burgundy Asset Management Ltd. She will bring to Clairvest valuable strategic insight combined with a deep understanding of the public markets.

About Clairvest

Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with over CAD $2.4 billion of capital under management. Clairvest invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in owner-led businesses. Under the current management team, Clairvest has initiated investments in 54 different platform companies and generated top quartile performance over an extended period.

Contact Information
Clairvest Group Inc.
Maria Shkolnik
Director, Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270