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 Trust to a publicly traded corporation. The business of the company was founded in 1978 and has since operated continuously.
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 current dividend policy is to pay a monthly dividend approximately equal to 50% of our net income. We expect that the amount of the monthly dividend will be $0.035 ($0.42 per annum) per share of Coast Inc.
The dividend policy is subject to the discretion of Coast’s Board of Directors, who will take into account the company’s financial performance, as well as its 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 and for 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?
Follow the SEDAR link below for more information about our financial performance, including our public filings and library of financial reports in pdf format.
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 our site page Financial Reports. Should you wish to receive printed copies of Coast’s financial reports by mail, register over the web at WILink report services, or by phone, you may call toll-free to the WI Link investor hotline: 1.888.757.5989.
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.