DundeeWealth Inc.

DundeeWealth Inc.

August 14, 2007 11:31 ET

DundeeWealth Declares Quarterly First Preference Shares, Series X Dividend

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2007) - DundeeWealth Inc. (TSX:DW) and Dundee Corporation (TSX:DC.A) announced today that the board of directors of Dundee Corporation has agreed to accept common shares of DundeeWealth in lieu of payment in cash of a quarterly dividend payable on the 5.4 million $10 par value 6% First Preference Shares, Series X, of DundeeWealth owned by Dundee Corporation. The dividend of $818,050.20 was declared by the board of directors of DundeeWealth on August 10, 2007.

The total number of common shares to be issued as payment of the dividend will be based on the greater of the closing price of the common shares on the Toronto Stock Exchange on the payment date being October 1, 2007 or the weighted average trading price of the common shares for the 20 day period ending on the day preceding the payment date. The payment is subject to all necessary regulatory and stock exchange approvals.

The dividend is designated as an eligible dividend for the purposes of section 89 of the Income Tax Act (Canada).

DundeeWealth is a Canadian owned, diversified wealth management company. Through its various subsidiaries, including Dundee Bank of Canada, a Schedule I chartered bank, DundeeWealth creates innovative asset management, alternative investments and provides investment solutions. In addition, DundeeWealth provides capital markets and advisory services to financial advisors, institutions, corporations and foundations, and provides retail banking services through financial advisors. DundeeWealth oversees $63.9 billion in assets under management and administration through independent financial advisors across Canada. It is listed on the Toronto Stock Exchange (TSX:DW).

Contact Information

  • DundeeWealth Inc.
    David Goodman
    President and CEO
    (416) 365-2571
    DundeeWealth Inc.
    Joanne Ferstman
    Chief Financial Officer
    (416) 365-5010