$0.048 Dividend Payable on 6.5 Percent Convertible Preferred Shares.JONQUIERE, QUEBEC--(BUSINESS WIRE)--March 17, 1998--(ME:AS.A.) Amisk Inc. today declared a $0.048 dividend on Series 1 senior convertible preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. whose holders are entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to a 6.5 percent cumulative annual dividend. The dividend is payable March 31, 1998 to all shareholders of record as at closing time on March 1, 1998. In mid-December, Amisk made a $15-million public offering of 5 million senior convertible preferred shares paying a 6.5 percent cumulative annual dividend. These shares qualify for the Quebec stock savings plan Quebec Stock Saving Plan, in French, Réginme d'épargne-actions (RÉA), was founded on march 27, 1979 by Jacques Parizeau. The QSSP offers taxpayers generous tax write-offs for investments in new public stock issues of compaines whose head office was in Quebec. (QSSP QSSP Quantum and Solid State Physics ) which entitles holders to a two-stage tax deduction Tax deduction An expense that a taxpayer is allowed to deduct from taxable income. tax deduction See deduction. that can total 150 percent of the amount paid for the shares. The issue was officially approved on December 5, 1997 and the first $4-million block of the financing was completed by year's end. Closing date for the offering is December 3, 1998. See the prospectus for details. CONTACT: Amisk Inc. Michel Belley, (418) 545-5011 ext. 5090 (418) 690-7021 (cellular) or Amisk Inc. Marc Lalancette, 418/ 546-1155 ext. 229 |
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