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Cargojet Declares Quarterly Dividend

Mississauga, ON, May 11 2020 – the Board of Directors of Cargojet Inc. has declared a cash dividend of $0.2340 per common voting share and variable voting share for the period from April 1, 2020 to June 30, 2020. The dividends will be paid to all shareholders of record as at the close of business on June 19, 2020 and will be payable on or before July 6, 2020.  These dividends will be eligible dividends within the meaning of the Income Tax Act (Canada).

Cargojet is Canada’s leading provider of time sensitive premium overnight air cargo services and carries over 8,000,000 pounds of cargo weekly. Cargojet operates its network across North America each business night serving 15 major cities, and selected international destinations.  Cargojet owns a fleet of 26 aircraft.

For further information, please contact:

Pauline Dhillon
Executive Vice President Marketing, Government & Public Relations
Tel: (905) 501 7373
pdhillon@cargojet.com

 

Notice on Forward Looking Statements:
Certain statements contained herein constitute "forward-looking statements", including potential timing and benefits to amending the Corporation’s articles in accordance with the CTA amendments. Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," "targeting," "suggests" and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Reference should be made to the Corporation’s most recent Annual Information Form filed with the Canadian securities regulators, and it’s most recent Annual Consolidated Financial Statements and Notes thereto and related Management's Discussion and Analysis (MD&A), for a summary of major risks. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. In particular, failure to obtain the necessary shareholder, court and any regulatory approvals, or the failure to otherwise satisfy the conditions to the implementation of the proposed plan of arrangement and the resulting amendments to Cargojet’s articles, may result in the proposed plan of arrangement and amendments not being completed on the proposed terms, or at all. The forward-looking statements contained or incorporated by reference in this news release represent Cargojet’s expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Cargojet disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.