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Steer Technologies ( (TSE:ARGH) ) just unveiled an announcement.
Argo Corporation announced a special stock dividend of Series A Preferred Shares linked to its ownership in FoodsUp Inc., a Canadian restaurant supply platform. This move is part of Argo’s strategy to monetize legacy assets, with potential proceeds from the sale of FoodsUp shares ranging between $21.6 million and $30.2 million, intended for distribution to shareholders. The dividend aims to provide shareholders with a stake in the proceeds from the eventual divestment, although the timing and final approval of the transactions remain uncertain.
More about Steer Technologies
Argo Corporation is a leader in next-generation transit solutions, known for its Smart Routing™ system that has successfully doubled transit ridership in certain municipalities. The company is focused on developing vertically-integrated transit systems for cities and is actively expanding its services to more municipalities.
Average Trading Volume: 115,984
Technical Sentiment Signal: Buy
Current Market Cap: C$84.6M
For a thorough assessment of ARGH stock, go to TipRanks’ Stock Analysis page.