|By Marketwired .||
|September 2, 2014 06:06 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 09/02/14 -- Further to Dundee Corporation's (TSX: DC.A) (TSX: DC.PR.B) ("Dundee" or the "Company") news release dated August 26, 2014, the Company announces today the applicable dividend rates for its Cumulative 5-Year Rate Reset First Preference Shares, Series 2 ("Series 2 Shares") and its Cumulative Floating Rate First Preference Shares, Series 3 ("Series 3 Shares").
With respect to any Series 2 Shares that remain outstanding on September 30, 2014, holders thereof will be entitled to receive fixed rate cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Dundee and subject to the provisions of the Business Corporations Act (Ontario). The dividend rate for the five-year period commencing on September 30, 2014 to, but excluding September 30, 2019, will be 5.688%, being equal to the sum of the five-year Government of Canada bond yield as at September 2, 2014, plus 4.10%, as determined in accordance with the terms of the Series 2 Shares.
With respect to any Series 3 Shares that may be issued on September 30, 2014, holders thereof will be entitled to receive floating rate cumulative preferential cash dividends on a quarterly basis, calculated on the basis of actual number of days elapsed in each quarterly floating rate period divided by 365, as and when declared by the Board of Directors of the Company and subject to the provisions of the Business Corporations Act (Ontario). The dividend rate for the three-month period commencing on September 30, 2014 to, but excluding, December 31, 2014, will be 5.04%, being equal to the sum of the three-month Government of Canada Treasury bill yield as at September 2, 2014, plus 4.10%, as determined in accordance with the terms of the Series 3 Shares.
Beneficial owners of Series 2 Shares who wish to exercise their right of conversion should instruct their broker or other nominee to exercise such right before 5:00 p.m. (EDT) on September 15, 2014. Instructions of conversion are irrevocable.
Beneficial owners should direct any conversion inquiries to their broker or Dundee's Registrar and Transfer Agent, Computershare Investor Services Inc., at 1-800-564-6253.
ABOUT DUNDEE CORPORATION
Dundee is a public Canadian independent holding company listed on the Toronto Stock Exchange under the symbol "DC.A". Through its operating subsidiaries, Dundee is engaged in diverse business activities in the areas of its core competencies including investment advisory and corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee also holds, directly and indirectly, a portfolio of investments mostly in these core focus areas, as well as other select investments in both publicly listed and private companies.
Vice President and Chief Financial Officer
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