TORONTO, Jan. 11 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW) today announced that its board of directors (the "Board") has approved the payment of a special cash dividend of $0.05 per common and special share, payable on February 2, 2011, or as otherwise provided under the terms of any applicable escrow agreements, to shareholders of record on January 19, 2011. This dividend is in addition to the Company's regular monthly dividend of $0.05 per common and special share, to be paid on February 1, 2011 as approved by the Board on November 4, 2010.
The special dividend represents approximately 25% of the net performance fees earned by DundeeWealth in 2010, which were approximately $31.4 million, after tax.
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 $83.3 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(R), 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).
SOURCE DundeeWealth Inc.
For further information: John Pereira, Chief Financial Officer, DundeeWealth Inc., (416) 365-5180; Myra Reisler, Director, Public Affairs, DundeeWealth Inc., (416) 365-5370