Shares of HTC Purenergy Inc (OTCMKTS:HTPRF) (TSXV:HTC) have been trading within a narrow range over the past few sessions.
Market Reaction
On Friday, HTPRF stock ended flat at $0.0121 with 8k shares, compared to its average volume of 16K shares. The stock moved within a range of $0.0121 – 0.0121 after opening trade at $0.0121.
HTC Announces Update on Special Dividend-in-Kind Shares of Delta Cleantech Inc.
HTC Purenergy Inc (OTCMKTS:HTPRF) (TSXV:HTC) on February 9, 2022 gave updates on the special dividend-in-kind of 12,000,000 from the 20,000,000 common shares of Delta CleanTech Inc.
In August 2021, the board of directors of the company approved Dividend the record date of close of business on August 13, 2021 for assessing holders of common shares. Though HTC aimed to pay Divided in 2021 through issuance of Delta shares, it was decided to give Dividend in quarter one of 2022.
The company is now expecting Dividend to be paid by February 18, 2022 to holders of record of HTC shares. Divided would be taxable and non-residents of Canada would be subject to Canadian withholding taxes.
For the non-residents of Canada subject to the tax, HTC would be retaining number of Delta shares having fair market value.
Shareholders having any query on the tax treatment of dividends may consult their own tax advisors or connect with local office of Canada Revenue Agency.
HTC continues to be operational in businesses related to hemp segment including production of broad acre industrial hemp for Composites, BioFibre utilized in BioPlasticsas well as BioCellulose. Additionally, it is engaged in Hemp Seed Protein and Hemp Seed Oil besides Cannabinoid Extraction.
Traders Review
HTPRF stock is trading below the 20-Day and 50-Day Moving averages of $0.0139 and $0.0218 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0440.
