Since 2012, close to $2.5 billion in capital shares have been sold, contributing to the capitalization of Desjardins caisses
LÉVIS, QC, Jan. 14, 2015 /CNW Telbec/ - Today, Desjardins Group is issuing new capital shares worth $1 billion. This issue is in addition to the shares distributed over the last several years. These issues have proven popular among caisse members, as they currently hold close to $2.5 billion worth of shares, which are contributing to the capitalization of their cooperative.
The capital shares are issued by the Fédération des caisses Desjardins du Québec and are offered exclusively to Desjardins caisse members in Québec. The shares have a par value of $10 and are eligible for RRSPs. The minimum amount for each subscription is $100. The interest rate is set annually and may not exceed either the average annual return for five-year Government of Canada bonds or 4.25%, whichever is higher.
For caisse members, acquiring these shares represents a long-term investment with good return potential and a great way to achieve healthy portfolio diversification. Members interested in acquiring capital shares should speak to their caisse advisor and read the prospectus for detailed information on the securities offered.
"Strong capitalization not only provides Desjardins with a solid basis for its growth but also provides significant security for our members and clients," says Normand Desautels, senior executive vice-president, Desjardins Group and General Manager of the Federation.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada and the fifth largest cooperative financial group in the world with assets close to $227 billion. It has been rated one of Canada's top 100 employers by Mediacorp Canada. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. The group has one of the highest capital ratios and credit ratings in the industry. In 2014, Desjardins was named the fourth safest bank in North America by Global Finance magazine and the second strongest bank in the world by Bloomberg News.
SOURCE Desjardins Group
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