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Dundee Corp | Cumulative 5-Year Rate Reset First Preference Shares, Series 2 (DC.PRB.CA)
Prospectus excerpt: This short form prospectus qualifies the distribution of 4,600,000 Cumulative 5-Year Rate Reset First Preference Shares, Series 2 (the “Series 2 Preference Shares”) of Dundee Corporation at a price of $25.00 per Series 2 Preference Share. Our Series 2 Preference Shares will be entitled to fixed cumulative preferential cash dividends payable quarterly on the last day of each of March, June, September and December in each year for the initial period from and including the closing date of this offering to, but excluding, September 30, 2014 (the “Initial Fixed Rate Period”). The initial dividend will be payable on December 31, 2009 and will be $0.49469 per Series 2 Preference Share, based on the anticipated closing of this offering on September 15, 2009. Full Prospectus PDF », DC.A.CA Page »
| Series: | 2 | | Alternate symbology: | DC-B.CA, DC-PB.CA, DCprB.CA | | Redeemable?: | Yes | | Call Date: | 9/30/2014 (Now Trading Post Call Date) | | Perpetual?: | Yes | | Cumulative?: | Yes | | Conversion Ratio: | Holders of the Series 2 Preference Shares will have the option to convert such shares into Cumulative Floating Rate First Preference Shares, Series 3 (the “Series 3 Preference Shares”), subject to certain conditions, on September 30, 2014 and on September 30 every fifth year thereafter. Series 3 Preference Shares will be entitled to floating rate, cumulative, preferential cash dividends payable quarterly on the last day of each of March, June, September and December (the initial quarterly dividend period and each subsequent quarterly dividend period referred to as a “Quarterly Floating Rate Period”) in an amount per Series 3 Preference Share determined by multiplying the applicable Floating Quarterly Dividend Rate (as defined herein) by $25.00. The Floating Quarterly Dividend Rate will be equal to the sum of the T-Bill Rate (as defined herein) plus 4.10% (calculated on the basis of the actual number of days in the applicable Quarterly Floating Rate Period divided by 365) determined on the Floating Rate Calculation Date (as defined herein). See “Details of the Offering”. | | Shares Offered: | 4600000 | | Overallotment: | 600000 | | Liquidation Preference: | $25 | | Recent Market Price: | $19.17 | Discount to Liquidation Preference:
(More Preferreds Trading at a Discount ») | $-5.83 (-23.32%) | | Annualized Dividend: | 1.321 | | Recent Ex-Date: | 3/15/2024 | | Current Yield: | 6.89% | | Original Coupon: | 6.75% | | Pay Period: | Quarterly | | Pay Dates: | 31-Mar, 30-Jun, 30-Sep, 31-Dec | | CDx3 Compliance Rating: |
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Dundee is a holding company. Through its subsidiaries, Co. is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Co. also holds, directly and indirectly, a portfolio of investments in these main areas, as well as other select investments in both publicly listed and private enterprises. Preferreds: DC.PRA.CA, DC.PRB.CA
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