Dominion Lending Centres Inc. Announces Quarterly Dividend

VANCOUVER, British Columbia, May 18, 2023 (GLOBE NEWSWIRE) -- Dominion Lending Centres Inc. (TSX:DLCG) ("DLC" or the "Corporation") is pleased to announce that its Board of Directors has declared a cash dividend of $0.03 per class "A" common share that will be payable on June 15, 2023 to shareholders of record on June 1, 2023. The dividend will be designated as an "eligible dividend" for Canadian income tax purposes.

About Dominion Lending Centres Inc.
The DLC Group is Canada's leading network of mortgage professionals. The DLC Group operates through Dominion Lending Centres and its three main subsidiaries, MCC Mortgage Centre Canada Inc., MA Mortgage Architects Inc. and Newton Connectivity Systems Inc., and has operations across Canada. The DLC Group's extensive network includes ~7,850 agents and ~539 locations. Headquartered in British Columbia, the DLC Group was founded in 2006 by Gary Mauris and Chris Kayat.

Contact information for the Corporation is as follows:

James Bell
Co-President
403-560-0821
[email protected]

Robin Burpee
Co-Chief Financial Officer
403-455-9670
[email protected]

Forward-Looking Information

This press release contains forward-looking information under applicable securities legislation concerning the payment of future dividends under the Corporation's quarterly dividend program. Although DLC believes that the expectations reflected in such forward-looking information are reasonable based on the information available at the time of this press release, undue reliance should not be placed on the forward-looking information as DLC can give no assurance that such expectations will prove to be correct. Such forward-looking information is based on a number of assumptions which may prove to be incorrect. In the case of the payment of future dividends under the Corporation's quarterly dividend program, these include assumptions as to the Corporation's future free cash flow, operating results, capital requirements and financial position. There are risks that may result in the Corporation changing, suspending or discontinuing its quarterly dividend program, including changes to free cash flow, operating results, capital requirements, financial position, market conditions or corporate strategy and the need to comply with requirements under debt agreements and applicable laws respecting the declaration and payment of dividends. There are no assurances as to the continuing declaration and payment of future dividends under the Corporation's quarterly dividend program or the amount or timing of any such dividends. For more information relating to risks, see "Risk Factors" in DLC's annual information form for the year ended December 31, 2022, which is available on SEDAR at www.sedar.com.

The forward-looking information contained in this press release is made as of the date hereof and, except as required by applicable securities law, DLC undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.