Latest news with #Mainstreet
Business Wire
09-07-2025
- Business
- Business Wire
Mainstreet Equity Corp. Announces Quarterly Dividend for Period Ending June 30, 2025
CALGARY, Alberta--(BUSINESS WIRE)--Mainstreet Equity Corp. (TSX: MEQ) today announces that the Board of Directors of Mainstreet Equity Corp. (Mainstreet) declared a quarterly cash dividend of $0.04 per Common Share of Mainstreet for the quarter ending June 30, 2025. The dividend is payable on July 31, 2025 to shareholders of record at the close of business on July 17, 2025. Mainstreet designates the entire amount of this taxable dividend to be an 'eligible dividend' for purposes of the Income Tax Act (Canada). This notice meets the requirements of the Income Tax Act (Canada). Please contact your tax advisor if you have any questions with regards to the designation of the eligible dividend. About Mainstreet Equity Corp. Mainstreet Equity Corp. ('Mainstreet') is a Calgary-based real estate operating company, traded on the Toronto Stock Exchange (TSX: MEQ). Mainstreet is a top provider of high-quality, affordable multi-family rental units in western Canada, covering BC, AB, SK, and MB, with year-to-date holdings of over 18,600 units. The company's long-term value is anchored by a counter-cyclical strategy to aggressively acquire undervalued units at distressed prices, using low-cost capital. Once acquired, Mainstreet rapidly stabilizes the assets to minimize cycle times and boost net operating income. The company employs a 100% organic, non-dilutive growth model, leveraging its robust liquidity position. As at Q2 2025, Mainstreet's assets were valued at approximately CDN $3.6 billion based on IFRS value. Caution Regarding Forward-Looking Information This press release contains certain forward-looking statements, including, but not limited to, statements relating to the payment of the dividend, and can generally be identified by the use of words such as 'may', 'will', 'could', 'should', 'would', 'likely', 'expect', 'intend', 'estimate', 'anticipate', 'believe', 'plan', 'objective' and 'continue' and words and expressions of similar import. Although Mainstreet believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions; cost and timing of the development of existing properties; availability of capital to fund property stabilization programs; risks associated with the real estate industry, including labour availability and costs, costs of renovation, fluctuations in vacancy rates, rent control, fluctuations in utility and energy costs, credit risk of tenants, fluctuations in interest rates and availability of capital; changes in laws and regulations; legal and regulatory proceedings; and the ability to execute strategic plans. Mainstreet does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
National Post
30-05-2025
- Business
- National Post
Mainstreet Equity Corp. Announces Normal Course Issuer Bid
Article content CALGARY, Alberta — Mainstreet Equity Corp. ('Mainstreet' or the 'Corporation') (TSX:MEQ) today announced that the Toronto Stock Exchange ('TSX') has accepted its notice of intention to make a normal course issuer bid to purchase outstanding common shares of the Corporation ('Shares') on the open market in accordance with the rules of the TSX. Article content Article content The Corporation is authorized to purchase up to 475,359 Shares under the normal course issuer bid, representing approximately 10% of its public float of issued and outstanding Shares, as of May 30, 2025. As of that date, there were 9,318,818 Shares issued and outstanding. The average daily trading volume of the Shares for the past six months ended April 30, 2025, calculated in accordance with the rules of the TSX, was 4,082 and Mainstreet is subject to a daily repurchase limit of 1,020 Shares. Mainstreet intends to commence the normal course issuer bid on June 3, 2025 and terminate the bid on June 2, 2026 or such earlier time as the bid is completed or terminated at the option of Mainstreet. Article content All shares purchased under this bid will be purchased in the open market through the facilities of the TSX and/or alternative Canadian trading systems at the prevailing market price at the time of such transaction. Shares acquired under the bid will be cancelled. Article content Mainstreet intends to acquire Common Shares from time to time in amounts and prices which its management believes are favourable and consistent with prudent economic and financial considerations. During the period between June 3, 2024 and the date hereof, Mainstreet repurchased Nil Shares under its previous normal course issuer bid. Mainstreet had approval from the TSX to acquire up to 475,229 Shares under such previous normal course issuer bid. Article content Mainstreet's Board of Directors believes that, from time to time, the market price of its Shares may not reflect their underlying value. At such times, the Board of Directors believe that the purchase of Shares for cancellation pursuant to the normal course issuer bid is in the best interests of Mainstreet and its shareholders, as the cancellation of the Shares will increase the value of the remaining Shares. Article content Certain statements contained herein constitute 'forward-looking statements' as such term is used in applicable Canadian securities laws. These statements relate to, among other things, Mainstreet's intentions to acquire Shares pursuant to the normal course issuer bid, the timing of such bid and that the repurchase and cancellation of the Shares pursuant to the bid is in the best interests of the shareholders and that it will increase the value of the remaining Shares. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions of future events or performance (often, but not always, using such words or phrases as 'expects' or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'estimates' or 'intends', or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Article content Such forward-looking statements are not guarantees of future events or performance and by their nature involve known and unknown risks, uncertainties and other factors, including those risks described in the Corporation's Annual Information Form under the heading 'Risk Factors' and the failure to realize anticipated benefits of the normal course issuer bid, that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, other factors may cause actions, events or results to be different than anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements contained herein. Article content Forward-looking statements are based on management's beliefs, estimates and opinions on the date the statements are made, and the Corporation undertakes no obligation to update forward-looking statements if these beliefs, estimates or opinions should change, except as required by applicable securities laws or as otherwise described therein. Article content Certain information set out herein may be considered as 'financial outlook' within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding the Corporation's reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes. Article content Article content Article content Article content Contacts Article content Article content
Business Wire
30-05-2025
- Business
- Business Wire
Mainstreet Equity Corp. Announces Normal Course Issuer Bid
CALGARY, Alberta--(BUSINESS WIRE)--Mainstreet Equity Corp. ('Mainstreet' or the 'Corporation') (TSX:MEQ) today announced that the Toronto Stock Exchange ('TSX') has accepted its notice of intention to make a normal course issuer bid to purchase outstanding common shares of the Corporation ('Shares') on the open market in accordance with the rules of the TSX. The Corporation is authorized to purchase up to 475,359 Shares under the normal course issuer bid, representing approximately 10% of its public float of issued and outstanding Shares, as of May 30, 2025. As of that date, there were 9,318,818 Shares issued and outstanding. The average daily trading volume of the Shares for the past six months ended April 30, 2025, calculated in accordance with the rules of the TSX, was 4,082 and Mainstreet is subject to a daily repurchase limit of 1,020 Shares. Mainstreet intends to commence the normal course issuer bid on June 3, 2025 and terminate the bid on June 2, 2026 or such earlier time as the bid is completed or terminated at the option of Mainstreet. All shares purchased under this bid will be purchased in the open market through the facilities of the TSX and/or alternative Canadian trading systems at the prevailing market price at the time of such transaction. Shares acquired under the bid will be cancelled. Mainstreet intends to acquire Common Shares from time to time in amounts and prices which its management believes are favourable and consistent with prudent economic and financial considerations. During the period between June 3, 2024 and the date hereof, Mainstreet repurchased Nil Shares under its previous normal course issuer bid. Mainstreet had approval from the TSX to acquire up to 475,229 Shares under such previous normal course issuer bid. Mainstreet's Board of Directors believes that, from time to time, the market price of its Shares may not reflect their underlying value. At such times, the Board of Directors believe that the purchase of Shares for cancellation pursuant to the normal course issuer bid is in the best interests of Mainstreet and its shareholders, as the cancellation of the Shares will increase the value of the remaining Shares. Forward-Looking Information Certain statements contained herein constitute "forward-looking statements" as such term is used in applicable Canadian securities laws. These statements relate to, among other things, Mainstreet's intentions to acquire Shares pursuant to the normal course issuer bid, the timing of such bid and that the repurchase and cancellation of the Shares pursuant to the bid is in the best interests of the shareholders and that it will increase the value of the remaining Shares. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions of future events or performance (often, but not always, using such words or phrases as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements are not guarantees of future events or performance and by their nature involve known and unknown risks, uncertainties and other factors, including those risks described in the Corporation's Annual Information Form under the heading "Risk Factors" and the failure to realize anticipated benefits of the normal course issuer bid, that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, other factors may cause actions, events or results to be different than anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements contained herein. Forward-looking statements are based on management's beliefs, estimates and opinions on the date the statements are made, and the Corporation undertakes no obligation to update forward-looking statements if these beliefs, estimates or opinions should change, except as required by applicable securities laws or as otherwise described therein. Certain information set out herein may be considered as "financial outlook" within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding the Corporation's reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.
Yahoo
29-05-2025
- Business
- Yahoo
Mainstreet Equity Corp. (MEQ) Opens the Market
Toronto, Ontario--(Newsfile Corp. - May 29, 2025) - Bob Dhillon, Founder and Chief Executive Officer, Mainstreet Equity Corp. (TSX: MEQ) ("Mainstreet" or the "Company") and his team, joined Omar Khafagy, Head, Client Success, Toronto Stock Exchange ("TSX") and TSX Venture Exchange ("TSXV"), to open the market to celebrate the Company's 25th listing anniversary on Toronto Stock Exchange. Cannot view this video? Visit: Mainstreet Equity Corp. is a Canadian real estate company headquartered in Calgary, specializing in the acquisition, renovation, and management of mid-market rental apartment buildings across Western Canada. With a portfolio of over 18,600 residential units in British Columbia, Alberta, Saskatchewan, and Manitoba, Mainstreet offers a range of townhomes, garden-style apartments, mid-rise, and high-rise properties, many located near universities and urban centres. Since being listed on the TSX in 2000, Mainstreet has pursued a value-add business model focused on transforming underperforming assets into high-quality, affordable rental housing. Its clustering strategy across inner-city platforms drives operating efficiency, cost control, and tenant satisfaction, while positioning the company to benefit from emerging zoning and density changes that could enhance the valuation of its asset base. Led by Founder, President and CEO Bob Dhillon, Mainstreet has consistently delivered strong shareholder returns, including 14 consecutive quarters of double-digit growth as of Q2 2025. The company remains committed to sustainable operations, community development, and accessible housing solutions, improving the lives of middle-class Canadians in high-demand rental markets. MEDIA CONTACT: Melony JamiesonGet it Done melony@ To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
NZ Herald
18-05-2025
- Business
- NZ Herald
CBD parking: Whanganui Mayor Andrew Tripe supports Mainstreet's proposal to extend parking stay
'We want to promote the ParkMate app much more, but there are so many different tiers of parking that it's difficult to promote.' The ParkMate app, introduced in 2018, was designed to make it more convenient for customers to pay for parking without carrying cash. Mainstreet believed modifying the time limits would encourage more use of the CBD and make it easier for visitors wanting to shop or eat. Mayor Andrew Tripe told the Whanganui Chronicle he supported the proposal. 'A busy and vibrant town centre is a healthy town centre,' he said. 'If we can have people in town spending a bit of money and creating a sense of community, I am all for that. 'I am very supportive. Three hours is not that much different from two - I think three hours is very reasonable.' Meyerhoff, in her presentation to the council, said beautician and hairdresser clients were often caught by the two-hour limit, as were cinemagoers. Vivo Hair & Beauty manager Selina Hill said parking could be a hassle for clients of her Victoria Ave business because appointments often extended past two hours. She was in favour of the proposed changes. 'I think it's a great idea because it ends up costing clients more on top of their service, and quite often they get tickets. 'We lose clients because they can't be parked for long enough. It's a nightmare, so we're all for it.' Tripe said there were 'multiple reasons why you'd need a car parked for three hours more than two, and it's not going to have an effect in causing issues for others'. It has been a busy start to Mainstreet's year with internal changes at the organisation. 'Up until now, we have been a bit quiet and that is because we have been relooking at our foundations, cementing them and looking at the strategy to see how we can implement that,' Meyerhoff said. In November 2024, Nikki Oesterle became chairwoman, while Meyerhoff began as general manager in February. Addressing earthquake-prone buildings in collaboration with the council was another goal. Meyerhoff said Mainstreet had created a database of all the earthquake-prone buildings within the CBD and roughly when they would need renovations. The council, in its 2025-26 Annual Plan, proposes to reintroduce funding of $100,000 for the town centre regeneration project that was removed in the 2024-2034 Long-Term Plan. Mainstreet is advocating that it be made the gatekeeper of the funds, with two focus areas being the enhancement of Majestic Square and better use of alleyways. The organisation wants to develop the square to have more of a multi-cultural and multi-generational use. Meyerhoff hopes to 'activate' alleyways connecting Victoria Ave to neighbouring streets so the area can be more fun and accessible. The council will make decisions on the Annual Plan submissions on May 28-29.
