DundeeWealth Inc.
TSX : DW

DundeeWealth Inc.

February 19, 2007 17:32 ET

DWM Inc. Declares a Dividend of $122.9 Million

TORONTO, ONTARIO--(CCNMatthews - Feb. 19, 2007) - Dundee Wealth Management Inc. (TSX:DW) ("Dundee Wealth") announces that its 83.7% subsidiary, DWM Inc., declared a cash dividend of $122.9 million to its shareholders on or before February 28, 2007, of which $102.9 million will be paid to Dundee Wealth, and $20 million will be paid to Caisse de depot et placement du Quebec ("Caisse"), which today holds 16.3% of DWM Inc. As separately announced, Dundee Wealth has agreed to purchase Caisse's interest in DWM Inc. to own 100%.

"DWM Inc. has been a joint venture company between Caisse and Dundee Wealth since October 2002. During that time, the company has grown and prospered significantly. This is the first dividend ever paid to its shareholders," stated Ned Goodman, President and Chief Executive Officer of DWM Inc. and Dundee Wealth.

Dundee Wealth is a Canadian owned wealth management company. Through its various subsidiaries, including Dundee Bank of Canada, a Schedule I chartered bank, Dundee Wealth creates and provides investment solutions as well as capital markets and advisory services for financial advisors, institutions, corporations and foundations. Dundee Wealth oversees $59.0 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

  • Dundee Wealth Management Inc.
    Ned Goodman
    President and CEO
    (416) 365-5665
    or
    Dundee Wealth Management Inc.
    Joanne Ferstman
    Chief Financial Officer
    (416) 365-5010