CALGARY, Alberta, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) ("Pulse" or the "Company") is pleased to announce the signing of an $8.5 million seismic data licensing sales agreement. In addition, the Company has declared a special dividend of $0.20 per common share.
The licensing agreement announced today has two components, with the first tranche comprising $5.2 million of data being recognized as revenue today, bringing year to date revenue to $37.3 million. The second tranche, comprising $3.3 million of data, will be delivered to the client in January 2024 at which time the related revenue will be recognized.
The special dividend, totaling approximately $10.5 million based on Pulse's 52,637,463 common shares outstanding as of December 6, 2023, will be paid on January 8, 2024, to shareholders of record on December 21, 2023. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident ...