Titanium Transportation Suspends Quarterly Dividend to Fortify Balance Sheet Amid Market Uncertainty
07 Février 2025 - 11:15PM
Titanium Transportation Group Inc. ("Titanium" or the "Company")
(TSX:TTNM, OTCQX:TTNMF), a leading provider of transportation and
logistics services throughout North America, today announced that
its Board of Directors (the “Board”) has elected to suspend its
dividend as the Company continues to execute a disciplined
financial strategy amid ongoing market challenges.
“Given the current softness in our core markets
and growing uncertainty surrounding potential tariff changes, we
are adopting a proactive and disciplined approach to capital
allocation,” commented Ted Daniel, Chief Executive Officer of
Titanium. “While we are seeing some early signs of economic
stabilization, the overall outlook remains uncertain due to the
ongoing macroeconomic and geopolitical situation, including
potential trade barriers and tariffs. By temporarily suspending our
dividend, we are ensuring that we have the financial resilience to
navigate near-term headwinds, accelerate debt-reduction and fortify
our balance sheet for long-term sustainable growth.”
The Company remains focused on executing against
its strategic priorities and driving long-term shareholder value.
Recognizing that Titanium has a strong track record of returning
capital through consistent dividend payments, the Board will
continue to review, among other things, the Company’s budget, cash
flow forecast, growth opportunities and market conditions on a
quarterly basis to determine whether dividends will be declared on
shares for future quarters.
For more details, visit Titanium’s investor relations website at
https://www.ttgi.com/investors.
About Titanium
Titanium is a leading North American
transportation company with asset-based trucking operations and
logistics brokerages servicing Canada and the United States, with
approximately 850 power units, 3,000 trailers and 1,300 employees
and independent owner operators. Titanium provides truckload,
dedicated, and cross-border trucking services, logistics, and
warehousing and distribution to over 1,000 customers. Titanium has
established both asset-based and brokerage operations in Canada and
the U.S. with eighteen (18) locations. Titanium is a recognized
purchaser of asset-based trucking companies, having completed
thirteen (13) transactions since 2011. Titanium ranked among top
500 companies in the inaugural Financial Times Americas’ Fastest
Growing Companies in 2020. The Company was ranked by Canadian
Business as one of Canada's Fastest Growing Companies for eleven
(11) consecutive years. For four (4) consecutive years, Titanium
has also been ranked one of Canada’s Top Growing Companies by the
Globe and Mail’s Report on Business of Canada. Titanium is listed
on the Toronto Stock Exchange under the symbol “TTNM" and “TTNMF”
on the OTCQX.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press
release constitute forward-looking information within the meaning
of Canadian securities laws. Forward-looking statements are
provided for the purposes of assisting the reader in understanding
Titanium's current expectations and plans relating to the future
and readers are cautioned that such statements may not be
appropriate for other purposes. Forward-looking information may
relate to Titanium's future outlook and anticipated events, and may
include statements regarding the financial position, business
strategy, budgets, litigation, projected costs, capital
expenditures, financial results, taxes and plans and objectives of
or involving Titanium. Particularly, statements regarding future
acquisitions, the availability of credit, performance,
achievements, prospects or opportunities for Titanium or the
industry in which it operates are forward-looking statements. A
variety of factors, many of which are beyond the Company’s control,
affect the operations, performance and results of the Company and
its business, and could cause actual results, including those
relating to the potential declaration of dividends by the Company
in the future, as well as the Company’s ability to advance its
objectives and strategic priorities, and deliver long-term value to
its shareholders, to differ materially from current expectations of
estimated or anticipated events or results. In some cases,
forward-looking information can be identified by terms such as
"may", "might", "will", "could", "should", "would", "occur",
"expect", "plan", "anticipate", "believe", "intend", "seek", "aim",
"estimate", "target", "project", "predict", "forecast",
"potential", "continue", "likely", "schedule", or the negative
thereof or other similar expressions concerning matters that are
not historical facts.
Information contained in forward-looking
statements is based upon certain material assumptions that were
applied in drawing a conclusion or making a forecast or projection,
including management's perceptions of historical trends, current
conditions and expected future developments, as well as other
considerations that are believed to be appropriate in the
circumstances. While management considers these assumptions to be
reasonable based on currently available information, they may prove
to be incorrect.
The forward-looking statements made in this
press release are dated, and relate only to events or information,
as of the date of this press release. Except as specifically
required by law, Titanium undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise, after the date on
which the statements are made or to reflect the occurrence of
unanticipated events.
Neither the TSX nor its Regulation Services
Provider (as that term is defined in the policies of the TSX)
accepts responsibility for the adequacy or accuracy of this
release.
Contact Information
Titanium Transportation Group Inc.Ted Daniel, CPA, CAChief
Executive Officer(905) 266-3011ted.daniel@ttgi.comwww.ttgi.com
For Investors James
Bowen416-519-9442James.Bowen@loderockadvisors.com
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