TORONTO, March 15, 2018 /CNW/ - The Board of Directors of Utility Corp. (the "Company") has today declared a monthly dividend of $0.105 per Class C Share payable on March 29, 2018 to holders of record at the close of business on March 27, 2018.
Shareholders are entitled to receive dividends as declared by the Board of Directors of Utility Corp. It is the Company's policy to declare and pay equal monthly dividends on the outstanding Class C Shares based on revenue received less expenses.
Scotia Managed Companies Administration Inc., which is the administrator of the Company, confirmed that the Company will terminate on its scheduled termination date of May 22, 2018. Prior to its termination date, the Company will liquidate its portfolio and pay the net asset value per share to shareholders on or about May 22, 2018. Additional details will be provided in a future press release.
Utility Corp. is a mutual fund corporation whose investment portfolio consists of publicly listed securities of selected Canadian utility and telecommunication issuers. The Class C Shares of Utility Corp. are listed for trading on the Toronto Stock Exchange under the symbol UTC.C.
SOURCE Utility Corp.
For further information: Investor Relations, Utility Corp., (416) 863-7893, E-mail: [email protected], Web site: www.scotiamanagedcompanies.com