TORONTO, Aug. 6 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the
"Company") (TSX: DW) today announced that the Board of Directors (the "Board")
approved changes to its dividend policy. The Company increased its quarterly
dividend payments on common and special shares from $0.02 to $0.035 per share.
The Board has approved the payment of a quarterly cash dividend of $0.035
per common and special share, payable on October 1, 2009, or as otherwise
provided under the terms of any applicable escrow agreements, to shareholders
of record on September 17, 2009.
In addition, the Board has approved an amendment to the Company's
dividend policy whereby 25% of the Company's after tax net earnings received
from performance fees in a given calendar year will be paid out as a special
dividend at the time of the payment of the first quarterly dividend in the
"These changes reflect our continuing efforts to enhance long-term
shareholder value," said David Goodman, President and Chief Executive Officer
A quarterly dividend of $0.035 represents a yield of 1.4% on
DundeeWealth's closing share price of $9.85 on August 5, 2009.
The dividend is designated as an eligible dividend for the purposes of
section 89 of the Income Tax Act (Canada).
About DundeeWealth Inc.
DundeeWealth is a Canadian owned, independent wealth management company
that oversees $61.1 billion in assets under management and administration. It
provides diversified wealth management and investment solutions including
alternative and tax-advantaged products, capital markets and advisory services
to financial advisors, institutions, corporations and foundations, and
innovative wealth management through independent financial advisors across
Canada. Its award winning investment brand, Dynamic Funds, managed by Goodman
& Company, Investment Counsel Ltd., is also available outside of Canada
through distribution platforms in Europe and the United States. DundeeWealth
is listed on the Toronto Stock Exchange (TSX: DW).
For further information:
For further information: John Pereira, Chief Financial Officer,
DundeeWealth Inc., (416) 365-5180; Myra Reisler, Manager, Public Affairs,
DundeeWealth Inc., (416) 365-5370