CanCap Preferred Corporation Announces Dividend.MONTREAL--(BUSINESS WIRE)--June 10, 1998--CanCap (ME:CAC See Consumer Advisory Council. .) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CAC.) CanCap Preferred Corporation, having its head office in Montreal and which 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. are listed on the Montreal and Toronto stock exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. , announces that its Board of Directors has declared a regular quarterly dividend of $0.3375 per share payable on June 30, 1998 to the holders of Preferred Shares of record at the close of business on June 22, 1998. This dividend is the fourth quarterly dividend declared by CanCap. CanCap Preferred Corporation issued in June 1997, pursuant to an initial public offering, 6,080,800 Preferred Shares at a price of $25 per share for a gross proceed of $152,020,000. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of issue was used to purchase a portfolio of shares comprising shares of all the companies listed on the Toronto 35 Index according to their exact weighting in such index. CanCap Preferred Corporation manages an index linked portfolio of approximately $488 million as at June 10, 1998, being an increase of approximately 20.4 percent of the value of the initial portfolio. CONTACT: CanCap Preferred Corporation Mr. Alain Pelchat, 514/ 879-5295 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion