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BRIEF-Storagevault Reports 2020 First Quarter Results And Increases Dividend

Published 2020-05-15, 07:22 a/m
SVI
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May 15 (Reuters) - Storagevault Canada Inc SVI.V :

* STORAGEVAULT REPORTS 2020 FIRST QUARTER RESULTS AND INCREASES DIVIDEND

* Q1 REVENUE C$35.8 MILLION

* INCREASING QTRLY DIVIDEND BY 0.5% BEGINNING Q2 TO $0.002680 PER COMMON SHARE

* STORAGEVAULT CANADA - Q1 2020 NET LOSS OF $8.4 MILLION (NET LOSS OF $8.8 MILLION FOR Q1 2019)

* ELECTED TO POSTPONE AUCTIONS AND RATE INCREASES TO EXISTING CUSTOMERS BEGINNING IN MID-MARCH

* AS AT MARCH 31, 2020, WE HAVE $14.3 MILLION IN CASH, $65.0 MILLION OF CREDIT AVAILABILITY

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