On November 17, 2022, Queen's Road Capital paid a dividend of CAD 0.017 per share to shareholders of record as at November 7, 2022. Payment of the dividend was made either in cash or, in the case of shareholders electing to participate in the Company's dividend reinvestment plan (the "DRIP"), in Common Shares issued at an implied price of CAD 0.70 per share, representing a 5% discount to the 5-day volume weighted average price of QRC prior to the dividend payment date.