Aimia Inc. is immediately suspending all dividends on common and preferred shares, including previously declared payments that were to be made at the end of this month. The Montreal-based company runs Aeroplan and other customer reward programs for various businesses including Air Canada, its original customer. Aimia says the dividend suspension is required following Air Canada's decision to stop using Aeroplan and launch its own customer reward program in 2020. Shareholders who are entitled to previously declared dividends may be paid at a future date. Aimia says it's actively working on forming new long-term relationships for the period after Air Canada departs and is making progress on cutting $70 million of costs from its business.

Source: CBC News June 14, 2017 15:22 UTC