NewGrowth Corp. Changes Record Date for March 25, 2011 Dividends

TORONTO, Feb. 8 /CNW/ - The Board of Directors of NewGrowth Corp. (the "Company") has changed the record date on previously declared ordinary dividends of $0.2055 per Preferred Share and $0.1600 per Capital Share payable on March 25, 2011 to the close of business on February 22, 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:

Investor Relations
NewGrowth Corp.
(416) 862-3931
Web site:


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