TORONTO, Feb. 3 /CNW/ - The Board of Directors of NewGrowth Corp. (the
"Company") has declared today ordinary dividends of $0.2055 per
Preferred Share and $0.1600 per Capital Share payable on March 25, 2011
to holders of record at the close of business on February 14, 2011.
Holders of the Preferred Shares are entitled to receive quarterly fixed
cumulative dividends equal to $0.20550 per Preferred Share. The
Company's Capital Share dividend policy is to pay holders of Capital
Shares quarterly dividends in an amount equal to the dividends received
by the Company on the underlying portfolio securities minus the
dividends payable on the Preferred Shares and all administrative and
operating expenses provided the net asset value per Unit at the time of
declaration, after giving effect to the dividend, would be greater than
the original issue price of the Preferred Shares.
NewGrowth Corp. is a mutual fund corporation whose investment portfolio
consists of publicly-listed securities of selected Canadian chartered
banks, telecommunication, pipeline and utility issuers. The Capital
Shares, Warrants and Preferred Shares of NewGrowth Corp. are all listed
for trading on The Toronto Stock Exchange under the symbols NEW.A,
NEW.WT and NEW.PR.C respectively.
SOURCE NewGrowth Corp.
For further information:
Web site: www.scotiamanagedcompanies.com