Pacific & Western to pay quarterly dividend on Class "B" Preferred Shares
LONDON, ON, Aug. 29, 2013 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) will pay a quarterly dividend on its outstanding Class "B" Preferred Shares on September 30, 2013 at the rate of $2.25 per annum. The dividend will be in the amount of $0.563 per Class "B" Preferred Share, comprised of $0.21 cash and $0.353 in common shares of PWC. The number of common shares to be issued is based on a 5 day volume weighted average trading price of PWC's common shares on the TSX ending August 28, 2013, and will result in .229 common shares per Class "B" Preferred Share, subject to rounding calculations for fractional shares.
The dividend to which this notice relates is payable on September 30, 2013 to Class "B" Preferred Shareholders of record at the close of business on September 10, 2013, and is an eligible dividend for tax purposes.
Pacific & Western Credit Corp.'s Class "B" Preferred Shares trade on the TSX under the symbol PWC.PR.B.
Pacific & Western Credit Corp.'s common shares trade on the TSX under the symbol PWC.
On behalf of the Board of Directors: David R. Taylor, President & C.E.O.
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SOURCE Pacific & Western Credit Corp.