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United Corporations Limited Announces Dividends
TORONTO, ONTARIO--(Marketwired - Feb 7, 2017) - The Board of Directors of United Corporations Limited (UNC.TO)(UNC-PA.TO)(UNC-PB.TO)(UNC-PC.TO) today declared the following cash dividends:
Class | Record Date | Payable Date | Amount of Dividend |
First Preferred Shares | May 4, 2017 | May 15, 2017 | $0.375 |
Second Preferred Shares, | May 4, 2017 | May 15, 2017 | $0.375 |
Second Preferred Shares, | May 4, 2017 | May 15, 2017 | $0.375 |
Common Shares | May 4, 2017 | May 15, 2017 | $0.30 |
United Corporations Limited advises that the above referenced dividends are eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial legislation.
The Company's dividend policy is to distribute annual net investment income in the form of Common Share dividends, after payment of Preferred Share dividends. The Company pays quarterly dividends on its Common and Preferred Shares with an additional Common Share dividend representing the balance of net investment income for the previous fiscal year. On February 7, 2017, the Board of Directors approved an increase in the quarterly Common Share dividend from $0.20 to $0.30.
