July 5, 2017 / 2:22 PM / 3 years ago

Canada's Exchange Income responds to Marc Cohodes shorting campaign

July 5 (Reuters) - Canada’s Exchange Income Corp said on Wednesday it was aware of a “short and distort campaign” aimed at undermining the value of the company’s shares.

Earlier on Wednesday, short seller Marc Cohodes told Reuters that he shorted the company’s stock, stating that Exchange Income cannot afford to pay its big dividend.

Exchange Income said it was considering accelerating its share repurchase program.

“The short report was deliberately released immediately following the end of the Company’s second quarter when EIC is in a quiet period, and is based on a number of statements, assumptions and opinions with which we strenuously disagree,” Exchange Income said in a statement. (Reporting by John Benny in Bengaluru; Editing by Saumyadeb Chakrabarty)

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