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MONTREAL, May 30, 2019 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital" or the "Company"), a leading independent asset management firm, today announced that it has implemented a Dividend Reinvestment Plan ("DRIP" or the "Plan"), effective May 30, 2019. The Plan is intended to provide shareholders of Fiera Capital with the option to have the cash dividends declared on their Fiera Capital shares automatically reinvested into additional Class A subordinate voting shares ("Class A Shares"), without the payment of brokerage commissions or service charges. Only future dividends declared by Fiera Capital will be eligible for reinvestment in the DRIP. As such, Fiera Capital's recently declared quarterly dividend on each of its outstanding Class A Shares and Class B special voting shares, payable to shareholders of record on May 22, 2019, is not eligible for the DRIP.
"We are pleased to announce the implementation of a dividend reinvestment plan which will provide shareholders with the option of reinvesting their dividends to acquire additional shares," said Jean-Guy Desjardins, Chairman of the Board and Chief Executive Officer of Fiera Capital. "Sound capital management – for both clients and shareholders – is and has always been of fundamental importance in how we operate. As we continue striving to become one of the top 100 asset management firms in the world, investing in the Company and improving our margins will be key in creating shareholder value. As such, our near-term efforts will be focused on properly integrating our recently announced acquisitions and pursuing the various streamlining initiatives already underway."
Participation in the Plan is optional; shareholders of Fiera Capital who do not wish to participate in the Plan will continue receiving a cash dividend.
While Fiera Capital, at its discretion, may fund the quarterly DRIP share requirements with either Class A Shares acquired on the open market (a "market purchase") or issued from treasury by Fiera Capital (a "treasury purchase"), it is currently intended that for the foreseeable future, participants in the DRIP will acquire the Class A Shares purchased pursuant to the Plan (the "Plan Shares") by way of a treasury purchase.
The price for the Plan Shares purchased under the DRIP by way of a treasury purchase is the volume weighted average trading price for the Plan Shares for the five trading days immediately preceding the dividend payment date.
Should Fiera Capital opt to acquire all or some of the Plan Shares issuable on a given dividend payment date by way of a market purchase, the price for all the Plan Shares so acquired will be their average price (excluding any brokerage commissions, fees and service charges).
A complete copy of the Plan is expected to be made available on or about June 11, 2019 on the Computershare Trust Company of Canada (the "Plan Agent") website at www.investorcentre.com/service.
Only future dividends declared by Fiera Capital will be eligible for reinvestment in the DRIP. Accordingly, Fiera Capital most recently declared a quarterly dividend of $0.21 per share on each of its outstanding Class A Shares and Class B special voting shares, payable to shareholders of record on May 22, 2019, is not eligible for the DRIP.
Quarterly dividends are only payable as and when declared by the Board of Directors of Fiera Capital and there is no entitlement to any dividend prior thereto. Before enrolling, shareholders are advised to read the complete text of the Plan and to consult their financial advisers regarding their unique investment profile and tax situation. Only Canadian residents will be eligible to participate in the Plan.
Shareholders who hold their Fiera Capital shares through a broker or financial institution and wish to enroll in the Plan should contact their broker or financial institution directly to learn more about the specific procedures and deadlines for enrollment in the Plan applicable to them. Once enrollment opens, registered shareholders will be able to enroll in the Plan online through the Plan Agent's self-service web portal, Investor Centre, at www.investorcentre.com/service.
Annual General and Special Meeting
The Company will hold its Annual General and Special Meeting of shareholders ("AGM") today at 9:30 a.m. at the Centre Mont Royal, located at 2200 Mansfield Street, Montreal, Quebec.
This document may contain certain forward-looking statements. These statements relate to future events or future performance, and reflect management's expectations or beliefs regarding future events, including business and economic conditions and Fiera Capital's growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend" or the negative of these terms, or other comparable terminology.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements. In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement.
These factors include, but are not limited to, market and general economic conditions, the nature of the financial services industry, and the risks and uncertainties detailed from time to time in Fiera Capital's interim condensed and annual consolidated financial statements, and its latest Annual Report and Annual Information Form filed on www.sedar.com. These forward-looking statements are made as of the date of this document, and Fiera Capital assumes no obligation to update or revise them to reflect new events or circumstances.
About Fiera Capital Corporation
Fiera Capital is a leading independent asset management firm with approximately C$144.9 billion in assets under management as of March 31, 2019. The Company provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. Clients and their portfolios derive benefit from Fiera Capital's depth of expertise, diversified offerings and outstanding service. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com
In the U.S., asset management services are provided by the Company's U.S. affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training.
Additional information about Fiera Capital Corporation, including the Company's annual information form, is available on SEDAR at www.sedar.com.
SOURCE Fiera Capital Corporation