TORONTO, Sept. 4 /CNW/ - The Board of Directors of NewGrowth Corp. (the
"Company") has declared today ordinary dividends of $0.2054 per Preferred
Share and $0.2300 per Capital Share payable on September 26, 2008 to holders
of record at the close of business on September 17, 2008. The reduction from
the prior quarter's dividend paid on the Capital Shares is attributable to BCE
Inc. ceasing to pay its dividend.
Holders of the Preferred Shares are entitled to receive quarterly fixed
cumulative dividends equal to $0.2054 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 revenue received by the Company on the
underlying portfolio securities minus the dividends payable on the Preferred
Shares and all administrative and operating expenses.
NewGrowth Corp. is a mutual fund corporation whose investment portfolio
consists of publicly-listed securities of selected Canadian chartered banks
and utility issuers. The Capital Shares and Preferred Shares of NewGrowth
Corp. are both listed for trading on The Toronto Stock Exchange under the
symbols NEW.A and NEW.PR.B respectively.
For further information:
For further information: please contact Investor Relations, NewGrowth
Corp., (416) 862-3931, E-mail: email@example.com, Web site: