Highlights for the year ended May 31, 2013:
- Share value rises to $27.98, up $0.78 since January 2013 and $1.39 since July 2012
- Net earnings of $458 million
- Fonds return of 5.3%
- Net assets of $9.3 billion
- 615,664 shareholder-savers
- Investments of $521 million in Québec
MONTREAL, July 4, 2013 /CNW Telbec/ - The Fonds de solidarité FTQ today announced a ninth consecutive increase (based on six-month periods) in its share value, which now stands at $27.98 or $0.78 more since January. Net earnings for year ended May 31, 2013, are $458 million, resulting in net assets of $9.3 billion. During this 12-month period, the Fonds invested $521 million in the Québec economy. Lastly, 615,664 Quebecers are now shareholder-savers of the Fonds de solidarité FTQ, a tremendous show of confidence during this 30th anniversary year.
"Thirty years after the Fonds de solidarité FTQ was created, one out of seven Québec workers is now a shareholder-saver and 2,395 Québec companies are partners of the Fonds. The reason the Fonds is so well entrenched in the Québec financial ecosystem is because it meets the needs of its shareholders, its partners and both governments. With the economy still recovering from its recent turbulent past and a growing number of Quebecers worrying about their retirement, the Fonds is an essential tool for Québec to be able to respond to the challenges of the coming years," said Fonds chairman and FTQ president Michel Arsenault.
"The Fonds is clearly a solid institution whose diversified investments have helped create, maintain or protect more than half a million jobs in Québec since 1990, while at the same time helping Quebecers better prepare for retirement. As a result of the social contract with its shareholders, partners and the governments, the Fonds has become a unique institution of which we can be proud and which this past year invested in companies such as AJW Technique for the relaunch of former Aveos installations, Distech Controls and Thrasos Innovation," added the Fonds' president and chief executive officer, Yvon Bolduc.
"The reason hundreds of thousands of Quebecers will be able to count on the Fonds de solidarité FTQ for retirement is the implication of our 2,000 local representatives, who give their time to make workers aware of the need to save. As a result of their encouragement, workers are better prepared for that next stage of their lives, which is extremely important considering 1.9 million of them can't rely on a supplemental pension plan from work," continued Mr. Arsenault.
About the Fonds de solidarité FTQ
Created in 1983, the Fonds de solidarité FTQ has been driving the Québec economy for 30 years. With net assets of $9.3 billion as at May 31, 2013, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec's development. The Fonds is a partner, either directly or through its network members, in 2,395 companies. With 615,664 shareholders-savers, the Fonds helps create, maintain or protect 170,915 jobs. For more information, visit www.FondsFTQ.com.
SOURCE: Fonds de solidarité FTQ
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