TORONTO, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Sonor Investments Limited today reported its financial results for the six months ended June 30, 2020.
| 6 months ended June 30 | 3 months ended June 30 | ||||
| 2020 | 2019 | 2020 | 2019 | ||
| $000 | $000 | $000 | $000 | ||
| Revenue | (1,604 | ) | 4,115 | 494 | 3,657 |
| Net Income | (1,920 | ) | 3,832 | 345 | 3,539 |
Michael Gardiner, Chairman and CEO, stated that as at June 30, 2020 the Company’s assets totalled $65.1 million. These assets included $9.1 million of marketable securities, $35.6 million in a private investment and $20.4 million of cash and cash equivalents.
During the six months ended June 30, 2020, the Company realized no capital gains on the sale of investments compared to $26,000 of net capital gains during the six months ended June 30, 2019. Revenue in fiscal 2020 did not include a dividend from Fairwater Capital Corporation. During fiscal 2019 a dividend of $3,381,000 was received in May, 2019. During the three months ended June 30, 2020, a dividend of $2,997,000 was paid ($3,146,000 in 2019) to common shareholders.
During the period under review, the Company has maintained net assets and qualified investments in excess of the amounts prescribed under the share conditions pertaining to the First Preference Shares in its capital stock.
Sonor Investments Limited is an investment corporation located in Toronto, Canada. The First Preference Shares of Sonor trade on The TSX Venture Exchange under the symbol SNI.PR.A.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.