Fonds de solidarité FTQ Share Value Is $54.73 at the End of FY 2022-2023
Share price is up $1.40, to $54.73
Highlights as at May 31, 2023:
- Share value at $54.73 (up $1.40 from December 23, 2022, and $2.12 from June 30, 2022);
- 6-month return of 2.6%;
- Annual return of 4.0%;
- 765,721 shareholders-savers, including 41,549 new shareholders-savers in one year;
- Annual compound return to shareholders of 4.0% for 1 year, 7.4% for 3 years, 6.1% for 5 years, and 6.9% for 10 years;
- Comprehensive annual income of $718 million;
- Net assets of $18.4 billion;
- Investments of $1.2 billion to support the Québec economy;
MONTRÉAL, June 23, 2023 /CNW/ - For its fiscal year ended May 31, 2023, the Fonds de solidarité FTQ posted comprehensive income (profit) of $718 million. The annual return to shareholders is 4.0% (including 2.6% in the second half of the fiscal year). The value of the Fonds share is now $54.73. Net assets stand at $18.4 billion, up $1 billion over last year, while the number of shareholders-savers is 765,721, a net increase of 17,350 in one year. These financial results were announced on the 40th anniversary of the Québec National Assembly's adoption of the bill to create the Fonds de solidarité FTQ.
The Fonds' annual compound return to shareholders (excluding tax credits) as at May 31, 2023, is 4.0% for 1 year, 7.4% for 3 years, 6.1% for 5 years and 6.9% for 10 years.
"Thanks to our team and our strategy, we were able to generate a profit of $718 million for our shareholders despite the economic context," said Fonds President and CEO Janie C. Béïque. "We continue to make every effort to encourage Quebecers to save for retirement and to help our small and mid-sized businesses grow, even in turbulent times."
Since the Fonds' financial statements will be published at a later date, a material change report has been filed. In accordance with financial reporting standards, the financial statements will be published no later than August 29, 2023.
During the year, the Fonds invested $1.2 billion to drive Québec' economic growth. This is the sixth consecutive year that the Fonds has invested more than $1 billion in the Québec economy.
"When the Fonds commits to an investment, it's for the long term, and this applies to all sectors. In the current economic situation, it is vital to invest in companies that will have both an economic and a social impact. There is still work to do in this regard, but the Fonds is ready and raring to go," continued Ms. Béïque.
"Created during an economic crisis, the Fonds recognizes the importance of supporting businesses everywhere in Québec. Whether through coaching or financing, the Fonds has been there for our SMEs, directly contributing to their success. More than half of all Fonds régionaux de solidarité FTQ projects involved business transfers. This is a major achievement. The Fonds' returns are more than just financial; they are also social returns," concluded Ms. Béïque.
During the year, the Fonds invested in Bécancour-based Airex Energy, a company that provides world-class decarbonization solutions capable of significantly reducing GHG emissions. Thanks to its proprietary CarbonFX™ technology, Airex Energy transforms biomass into value-added green carbon products such as biocoal, biochar and biocarbon.
The Fonds also supported the growth of Québec City-based EBC, a Canadian construction industry leader active in the building, mining and major civil engineering sectors. EBC stands out for its application of ESG criteria and its commitment to integrating sustainable development factors into its business strategy. During the year, the Fonds team delivered sustainable development training to employees.
Lastly, the Fonds invested in UgoWork, a leading Québec City-based manufacturer, developer and distributor of innovative lithium-ion solutions. UgoWork also has energy expertise that opens up energy as a service possibilities for the materials handling market.
A source of pride for Quebecers, the Fonds de solidarité FTQ fulfills its mission thanks to a unique business model created 40 years ago. Since its inception, the Fonds has rallied Quebecers, collecting and channeling the retirement savings of its 765,721 shareholders-savers into investments that help drive the Québec economy.
With net assets of $18.4 billion as at May 31, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments underpinned by the conviction that impact is created as much by financial as social returns. For more information, visit fondsftq.com or our company page on LinkedIn.
Please read the prospectus before buying shares of the Fonds de solidarité FTQ. Copies of the prospectus may be obtained online at fondsftq.com, from a local representative or at the offices of the Fonds de solidarité FTQ. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends and do not take into account income taxes payable by any security holder that would have reduced returns. The shares of the Fonds de solidarité FTQ are not guaranteed; their value changes and past performance may not be repeated.
The acquisition of shares of the Fonds de solidarité FTQ may give rise to labour-sponsored fund tax credits. The tax credits amount to 30%, namely 15% at the Quebec level and 15% at the federal level, and are limited to $1,500 per fiscal year, which represents a $5,000 purchase of shares of the Fonds de solidarité FTQ. RRSP deductions can be added to the credits.
SOURCE Fonds de solidarité FTQ
Press contact: Frédérique Lavoie-Gamache, Advisor, Media Relations, Fonds de solidarité FTQ, Phone: 438 364-1596, Email: [email protected]
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