Annual Return of 9.8% and Share Price at $33.26
- Annual return: 9.8%;
- Share value: $33.26 (up $1.90 from January 2015 and $2.97 from July 2014);
- Comprehensive income: $992 million;
- Net assets grow to $11.1 billion;
- Development capital investments: $640 million;
- Tax credits: 25% for the 2015 taxation year;
- Limit on issue of shares eligible for tax credits no longer in effect as of June 1, 2015.
MONTRÉAL, July 6, 2015 /CNW Telbec/ - The Fonds de solidarité FTQ reported comprehensive income of $992 million and net assets of $11.1 billion for the year ended May 31, 2015. The return for this period is 9.8% and share value reached a record $33.26, an increase of $1.90 from January 2015 and $2.97 from July 2014. During the year, the Fonds committed $640 million in development capital to companies with an economic impact in Québec.
"These results attest to the Fonds' soundness and to the key role it plays in retirement planning, economic development and job creation. The Fonds has delivered on all fronts, for example, by bringing the ownership of Montreal Gateway Terminals and Atis Group back into Québec hands, backing the growth of SMEs such as Colo-D and Frima Studio, supporting the Québec government's Maritime Strategy and generating an excellent return for its shareholders," said Fonds de solidarité FTQ Chairman Robert Parizeau.
"During my regional tour last fall, I announced that the Fonds planned to invest $1.6 billion in unsecured risk capital over a three-year period. With development capital commitments of $640 million in 2014-2015, the Fonds is on track to meet this objective. However, in order to maintain this level of investments in the future, the federal government must reverse its decision on the tax credits granted to labour-sponsored fund shareholders," added Gaétan Morin, President and CEO of the Fonds de solidarité FTQ.
Various ways to contribute to the Fonds de solidarité FTQ
Quebecers can contribute to the Fonds in various ways and benefit from the extra 25% in labour-sponsored fund tax credits,1 more specifically:
- Through the Fonds' local representatives in the workplace and through its field offices, where they can get help with enrolment and transactions;
- On www.FondsFTQ.com, where with just one click they can choose their method of contribution and payment as well as access their account to make online transactions; or
- By calling Shareholder Services at 1 800 567-FONDS (3663).
The limit on the issue of Fonds de solidarité FTQ shares eligible for tax credits is no longer in effect as of June 1, 2015.
Shareholders' compound annual return
The Fonds' compound annual return (excluding the tax credits) to shareholders is 9.8% for 1 year, 7.7% for 3 years, 6.9% for 5 years and 4.0% for 10 years.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ helps drive our economy. With net assets of $11.1 billion as of May 31, 2015, 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 de solidarité FTQ is a partner, either directly or through its network members, in more than 2,550 companies. With 610 605 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com.
1 For contributions made by February 29, 2016 (subject to confirmation by the Canada Revenue Agency) and reported for the 2015 taxation year. If reported for the 2016 taxation year, the tax credit will be 20%, as the federal credit will be decreased by 5%.
Please read the prospectus before investing. Copies of the prospectus may be obtained on the Fonds' Website, 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, if any, and do not take into account income taxes payable by any security holder that would reduce returns. Fonds de solidarité FTQ shares are not guaranteed, their value changes and past performance may not be repeated.
SOURCE Fonds de solidarité FTQ
For further information: Information for media representatives only: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Telephone: 514 850-4835, Mobile: 514 703-5587, Email: [email protected]; For Fonds de solidarité FTQ shareholders: Shareholder Services, Fonds de solidarité FTQ, Montréal: 514 383-3663, Québec: 418 628-3663, Toll Free: 1 800 567-3663