TORONTO, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Dundee Corporation (TSX: DC.PR.B) (“Dundee”) announced today that its board of directors has approved the payment of a quarterly cash dividend of $0.33025 per cumulative 5-year rate reset first preference share, series 2 (“Series 2 Share”) payable on September 30, 2020 to shareholders of record on September 16, 2020.
The dividend is designated as an eligible dividend for the purposes of section 89 of the Income Tax Act (Canada).
As described in further detail in Dundee’s press release dated July 22, 2020, in accordance with the terms of the substantial issuer bid (the “Offer”) for the Series 2 Shares announced on July 22, 2020, holders of Series 2 Shares who have Series 2 Shares taken up and paid for by Dundee pursuant to the Offer will be entitled to receive at the time such Series 2 Shares are paid for the portion of any quarterly cash dividend declared by the board of directors on such Series 2 Shares for the quarter ended September 30, 2020, with such portion of the quarterly cash dividend per Series 2 Share being equal to the amount obtained when the amount of the quarterly dividend that would otherwise have been payable in respect of the dividend period is multiplied by a fraction, the numerator of which is the number of calendar days in such dividend period that such Series 2 Share has been outstanding (to but excluding the date of being taken up under the Offer) and the denominator of which is the number of calendar days in such dividend period. Further details of the Offer, including the terms and conditions thereof, are included in the offer to purchase, the accompanying issuer bid circular and the related letter of transmittal and notice of guaranteed delivery which are available on SEDAR at www.sedar.com and on Dundee’s website at www.dundeecorp.com.
ABOUT DUNDEE CORPORATION
Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these key areas, as well as other select investments in both publicly listed and private enterprises.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor and Media Relations for Dundee Corporation
T: (647) 402-6375