(Cash Before Payday) Rentcash offers payout, despite income drop (Toronto Star)
The 425-outlet company said yesterday it is paying a quarterly cash dividend of 2. The dividends "reflect the company’s improved working capital position and strong cash flow generated over the past year," said Gordon Reykdal, chair and CEO of the Edmonton-based company. Rentcash, operating under the Cash Store, Instaloans and Insta-rent banners, said it earned $5. He added that Rentcash has not been hit by liquidity restrictions in the capital markets, and its cash holdings are in accounts with major Canadian banks. Rentcash, which plans to spin off its trimmed-down 65-outlet rental division to its shareholders as a separate company, said yesterday Nancy Bland has been promoted from vice-president of finance to chief financial officer effective Oct. Learn more
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