Dundee Wealth Management Inc. and Dundee Corp. announced on Thursday that the board of directors of Dundee Corp. has agreed to accept common shares of Dundee Wealth in lieu of payment in cash of a quarterly dividend payable on the 5.4 million $10 par value 6% First Preference Shares, Series X, of Dundee Wealth owned by Dundee Corp. The board of directors of Dundee Wealth declared the $818,050.20 dividend on Aug. 9.
The total number of common shares to be issued as payment of the dividend will be based on the closing market price prior to payment on Oct. 2. The payment is subject to all necessary regulatory and stock exchange approvals.
Dundee Corp. also announced that its board of directors has approved the payment of a quarterly cash dividend of $0.31937 per first preference share, series 1 payable on Oct. 2 to shareholders of record on Sept. 18.
Dundee Wealth Management declares regular preferred share dividend
Total number of common shares issued will be based on closing market price on Oct. 2
- By: IE Staff
- August 10, 2006 August 10, 2006
- 12:40
IE Staff