Frequently Asked Questions
When was Coast Wholesale Appliances Inc. formed?
Coast was formed on January 1, 2011 with the conversion of Coast Wholesale Appliances Income Fund to a publicly traded corporation. The business of the company was founded in 1978 and has operated continuously ever since.
Why did Coast convert to a corporation?
In light of the changes to the tax treatment of cash distributions to income trust unitholders that came into effect in 2011, Coast determined that conversion to a corporation was in the best interests of our investors. We also believe that a corporate structure is better suited to both our business model and our growth strategy.
Where are shares of Coast traded?
Our shares are traded on the Toronto Stock Exchange (TSX) under the symbol CWA.
How many shares are currently outstanding?
Currently, there are 10,034,166 shares of Coast issued and outstanding.
What is Coast’s dividend policy?
Coast’s dividend policy is to pay a monthly dividend approximately equal to 50% of our net income. The current monthly dividend is $0.025 ($0.30 per annum) per share of Coast Inc.
The dividend policy is subject to the discretion of Coast’s Board of Directors, who take into account the company’s financial performance, as well as our current and anticipated business needs, at the time a dividend is being considered. The amount and timing of any future dividends may vary depending on, among other things, Coast’s earnings, financial requirements, the satisfaction of solvency tests imposed by the Canada Business Corporations Act for the declaration of dividends and other relevant factors.
What about investment eligibility?
Coast’s shares are eligible for investment under the usual Canadian statutes governing RRSPs, RRIFs, RESPs and DPSPs, and are not considered foreign property under such plans.
Are Coast's dividends eligible for the gross up in dividend tax credits under Canadian tax rules?
Yes, dividends paid since our conversion from an income trust to a corporate structure on January 1, 2011 are eligible.
Does Coast offer a Dividend Reinvestment Plan?
No, due to the cost to the company of setting up and administering a DRIP, we do not offer this option to shareholders.
When is Coast’s fiscal year-end?The company’s fiscal year-end is December 31.
Where can I find the latest published financial information about Coast?
Information about the company’s financial performance and PDF copies of our financial reports are available on this website under the Financial Performance tab or you can obtain copies of all our public filings by following the SEDAR link below
Coast on SEDAR
How can I obtain a printed copy of Coast’s financial reports?
For speed of delivery, you can download the printable PDF files on the Financial Preformance page of this website. If you wish to receive printed copies of Coast’s financial reports by mail, please complete the Request Information form on this website or call: 604-669-5262.
Where is Coast’s head office?
The company’s head office is located in Vancouver, British Columbia. For more detailed contact information, view our IR Contacts page.