08:07 AM EDT, 05/07/2024 (MT Newswires) -- Wilmington Capital Management (WCM-A.TO, WCM-B.TO) overnight Monday reported first-quarter earnings of $1.3 million, or $0.10 per share, as compared with a loss of $574,000, or $0.05 per share, a year earlier.

The company noted that on March 6 it declared a special dividend of $2.75 per Class A and Class B share, totaling $33.9 million and payable on May 7. Class A shareholders will receive $1.25 per share as a return of capital and $1.50 as an eligible dividend. Class B shareholders will receive $1.12 per share as a return of capital and $1.63 as an eligible dividend.

As previously reported the corporation had set its sights on simplifying its business and monetizing those investments "where the embedded value has been substantially realized". In the preceding nine months, it monetized its investment in the Bow City Partnerships, Northbridge and certain underlying energy funds and more recently its investment in the marina business.

Looking ahead, the company said it will continue to focus on streamlining its business, reassessing its ongoing liquidity needs, and on potential opportunities to expand its footprint in the RV resort business.