Propel Holdings Inc. announced that its board of directors has approved an increase to its dividend that represents an increase from CAD 0.48 per common share to CAD 0.52 per common share on an annualized basis. This 8% increase is the Company's fourth dividend increase since the beginning of 2023. The board declared a dividend of CAD 0.13 per common share, payable on June 5, 2024 to shareholders of record as of the close of business on May 16, 2024.

The Company has designated this dividend as an eligible dividend within the meaning of the Income Tax Act (Canada).