MONTRÉAL, Nov. 10, 2021 /CNW Telbec/ - The Board of Directors of Power Financial Corporation (Power Financial or the Corporation) today declared the following quarterly dividends on the Corporation's preferred shares.
Dividends on Preferred Shares
Dividends payable February 15, 2022 to shareholders of record January 25, 2022:
Floating rate 
 Equal to one quarter of 70% of the average prime rate of two major Canadian chartered banks for the period October 1 to December 31, 2021.
Dividends payable January 31, 2022 to shareholders of record January 10, 2022:
 Initial dividend based on issuance date of October 15, 2021.
Dividends payable November 22, 2021 to shareholders of record November 17, 2021:
 On October 18, 2021, Power Financial announced that it intends to redeem all of its outstanding 6.00% Non-Cumulative First Preferred Shares, Series I on November 22, 2021. The Board of Directors of Power Financial has approved a dividend of 9.041¢, payable on November 22, 2021 to shareholders of record on November 17, 2021. The redemption price of $25.00 per share will be paid separately on the redemption date to shareholders of record on November 22, 2021.
For purposes of the Income Tax Act (Canada) and any similar provincial legislation, all of the above dividends on the Corporation's preferred shares are eligible dividends.
About Power Financial
Power Financial, a wholly owned subsidiary of Power Corporation of Canada, is an international management and holding company with interests in financial services and asset management businesses in Canada, the United States and Europe. It also has significant holdings in a portfolio of global companies based in Europe. To learn more, visit www.PowerFinancial.com.
Readers are reminded that Power Financial relies on certain of the continuous disclosure documents filed by Power Corporation of Canada pursuant to an exemption from the requirements of National Instrument 51-102 – Continuous Disclosure Obligations (NI 51-102) pursuant to Section 13.1 of NI 51-102 and as provided in the decision of the Autorité des marchés financiers and the Ontario Securities Commission, dated January 19, 2021, regarding Power Financial and Power Corporation of Canada, and that such continuous disclosure documents, including a press release announcing the third quarter 2021 financial results of Power Corporation of Canada, can be found for viewing in electronic format under the profile of Power Financial on SEDAR at www.sedar.com.
SOURCE Power Financial Corporation