Shareholder Information

Dividend Policy

TFI International adopted a Dividend Policy (the “Policy”) whereby approximately 20-25% of TFI International’s annualized free cash flow available would be distributed every year as dividends to shareholders on a quarterly basis. The Board of Directors (the “Board”) has determined that this level of distribution would allow TFI International to maintain sufficient financial resources and flexibility to execute its operating and disciplined acquisition strategies, while providing an adequate return on shareholder’s capital. The Board may also, at its discretion and at any time, change the amount of dividends distributed and/or elect not to distribute a dividend, whether as a result of a one-time decision or a change in the Policy. The quarterly dividend paid since January 2017 has been $0.19 per share.

Please note that other than some dividends paid, as indicated in the table below, all dividends paid by TFI International on all of its common shares are considered to be an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada) and any applicable provincial legislation pertaining to eligible dividends.

The following lists the dividends declared and paid by TFI International’s Board of Directors on the Company’s common shares.

Record Date Payment Date Dividend 
(per share)
June 30, 2017 July 17, 2017 $0.19
March 31, 2017 April 17, 2017 $0.19
December 30, 2016 January 16, 2017 $0.19
September 30, 2016 October 17, 2016 $0.17
June 30, 2016 July 15, 2016 $0.17
March 31, 2016 April 15, 2016 $0.17
December 31, 2015 January 15, 2016 $0.17
September 30, 2015 October 15, 2015 $0.17
June 30, 2015 July 15, 2015 $0.17
March 31, 2015 April 15, 2015 $0.17
December 31, 2014 January 15, 2015 $0.17
September 30, 2014 October 15, 2014 $0.145
June 30, 2014 July 15, 2014 $0.145
March 31, 2014 April 15, 2014 $0.145
December 31, 2013 January 15, 2014 $0.145
September 30, 2013 October 15, 2013 $0.13
June 28, 2013 July 15, 2013 $0.13
March 29, 2013 April 15, 2013 $0.13
December 31, 2012 January 15, 2013 $0.13
September 28, 2012 October 15, 2012 $0.13
June 30, 2012 July 16, 2012 $0.13
March 30, 2012 April 16, 2012 $0.115
December 30, 2011 January 16, 2012 $0.115

Following several acquisitions, some dividends paid were not designated as eligible dividends as they come from earnings of acquired companies that were taxed at lower rates. The following table provides the quarterly dividends per share paid including a non-eligible portion:

Payment date Eligible dividend Non-eligible dividend Total dividend
January 16, 2017 $0.168254 $0.021746 $0.19
July 15, 2015 $0.103731 $0.066269 $0.17
Avril 15, 2015 $0.102418 $0.067582 $0.17
January 15, 2015 $0.102495 $0.067505 $0.17

Auditor & Transfer Agent

Auditor

KPMG LLP
600 De Maisonneuve Blvd W.
Montreal, QC 
H3A 3J2

Transfer Agent

For any questions concerning changes to share registration, changes of address, distributions (if any), lost share certificates, the transfer of estates, or to advise of correspondence that has been sent in duplicate, shareholders are asked to contact the TFI International Inc. transfer agent: 

Computershare Trust Company of Canada
100 University Avenue, 8th Floor
Toronto, Ontario  
M5J 2Y1

Telephone: 514 982-7555
Toll free: 1 800 564-6253
Fax: 416 263-9394
Toll free fax: 1 888 453-0330


Analyst Coverage

Please note that any opinions, estimates or forecasts regarding TFI International’s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of TFI International or its management.

Firm Analyst Phone
BMO Capital Markets Fadi Chamoun 416 359-6775
CIBC World Markets Kevin Chiang 416 594-7198
Cormark Securities David Tyerman 416 843-6722
Cowen and Company Jason H. Seidl 646 562-1404
Desjardins Securities Benoit Poirier 514 281-8653
Echelon Wealth Partners Ralph Garcea 647 794-1925
Laurentian Bank Securities Mona Nazir 514 350-2964
National Bank Financial Cameron Doerksen 514 879-2579
RBC Capital Markets Walter Spracklin 416 842-7877
Scotia Capital Turan Quettawala 416 863-7065
TD Securities Damir Gunja 416 983-4186

TFI International invites those people considering an investment in the Company to consult with an independent, professional advisor before making such a decision.


Financial Institutions

A banking syndicate of 13 lenders led by National Bank Financial as Sole Bookrunner and Co-Lead Arranger, RBC Capital Markets and Bank of America Merrill Lynch as Co-Lead Arrangers, and National Bank of Canada acting as administrative agent. The total available amount under the revolving credit facility is $1,200 million. The revolving credit facility is unsecured, is maturing in June 2021 and can be extended annually. The revolving credit facility is carried out by:

National Bank of Canada
Royal Bank of Canada
Bank of America Merrill Lynch
Bank of Montreal
The Bank of Nova Scotia
Caisse Centrale Desjardins
JPMorgan Chase Bank
Toronto Dominion Bank
Bank of Tokyo-Mitsubishi UFJ (Canada)
Canadian Imperial Bank of Commerce
HSBC Bank Canada
PNC Bank Canada Branch
Alberta Treasury Branch