TORONTO
,
Jan. 19
/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
$0.025
per common and special share, payable on
April 1, 2010
, or as otherwise provided under the terms of any applicable escrow agreements, to shareholders of record on
March 18, 2010
. This dividend is in addition to the Company's regular quarterly dividend of
$0.035
per common and special share, to be paid on the same date upon approval from the Board.
The special dividend represents 25% of the net performance fees earned by DundeeWealth in 2009, which were approximately
$14.5 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
$68.8 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, 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).
For further information: John Pereira, Chief Financial Officer, DundeeWealth Inc., (416) 365-5180; Myra Reisler, Manager, Public Affairs, DundeeWealth Inc., (416) 365-5370
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