Readers are referred to the section "Forward-Looking Statements" at the end of this release
MONTRÉAL, Jan. 2, 2019 /CNW Telbec/ - Further to Power Financial Corporation's ("Power
Financial" or "the Corporation") (TSX: PWF) (TSX: PWF.PR.T) news release dated December 3,
2018, Power Financial announced today the applicable dividend rates on its Non-Cumulative 5-Year Rate Reset First
Preferred Shares, Series T (the "Series T shares") and on its Non-Cumulative Floating Rate First Preferred Shares, Series U (the
"Series U shares").
With respect to any Series T shares that will remain outstanding after January 31, 2019, holders
thereof will be entitled to receive quarterly fixed non-cumulative preferential cash dividends, if, as and when declared by the
Board of Directors of Power Financial. The dividend rate for the 5-year period from and including January
31, 2019 to but excluding January 31, 2024 will be 4.215%, being equal to the 5-year
Government of Canada bond yield determined as of today plus 2.37%, in accordance with the terms
of the Series T shares.
With respect to any Series U shares that may be issued on January 31, 2019, holders thereof will
be entitled to receive quarterly floating rate non-cumulative preferential cash dividends, if, as and when declared by the Board
of Directors of Power Financial. The dividend rate for the 3-month floating rate period from and including January 31, 2019 to but excluding April 30, 2019 will be 4.040%, being equal to
the 3-month Government of Canada Treasury Bill yield determined as of today plus 2.37%, calculated on the basis of the actual
number of days in such quarterly period divided by 365, in accordance with the terms of the Series U shares.
Beneficial owners of Series T shares who wish to exercise their conversion right should communicate with their broker or other
nominee to ensure their instructions are followed so that the registered holder of the Series T shares can meet the deadline to
exercise such conversion right, which is 5:00 p.m. (EST) on January 16,
2019.
About Power Financial
Power Financial Corporation is a diversified international management and holding company with interests substantially
in the financial services sector in Canada, the United States
and Europe. It also has significant holdings in global industrial and services companies based
in Europe. Power Financial Corporation is a member of the Power Corporation Group of
Companies. To learn more, visit www.PowerFinancial.com.
Forward-Looking Statements
Certain statements in this news release, other than statements of historical fact, are forward-looking statements based
on certain assumptions and reflect the Corporation's current expectations, or with respect to disclosure regarding the
Corporation's public subsidiaries, reflect such subsidiaries' disclosed current expectations. Forward-looking statements are
provided for the purposes of assisting the reader in understanding the Corporation's financial performance, financial position
and cash flows as at and for the periods ended on certain dates and to present information about management's current
expectations and plans relating to the future and the reader is cautioned that such statements may not be appropriate for other
purposes. These statements may include, without limitation, statements regarding the operations, business, financial condition,
expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and
outlook of the Corporation and its subsidiaries and the declaration of dividends by the Corporation, as well as the outlook for
North American and international economies for the current fiscal year and subsequent periods. Forward-looking statements include
statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as
"expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts" or negative
versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and
"could".
By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give
rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors,
many of which are beyond the Corporation's and its subsidiaries' control, affect the operations, performance and results of the
Corporation and its subsidiaries and their businesses, and could cause actual results to differ materially from current
expectations of estimated or anticipated events or results. These factors include, but are not limited to: the impact or
unanticipated impact of general economic, political and market factors in North America and
internationally, fluctuations in interest rates, inflation and foreign exchange rates, monetary policies, business investment and
the health of local and global equity and capital markets, management of market liquidity and funding risks, risks related to
investments in private companies and illiquid securities, risks associated with financial instruments, changes in accounting
policies and methods used to report financial condition (including uncertainties associated with significant judgments, estimates
and assumptions), the effect of applying future accounting changes, business competition, operational and reputational risks,
technological changes, cyber security risks, changes in government regulation and legislation, changes in tax laws, unexpected
judicial or regulatory proceedings, catastrophic events, the Corporation's and its subsidiaries' ability to complete strategic
transactions, integrate acquisitions and implement other growth strategies, and the Corporation's and its subsidiaries' success
in anticipating and managing the foregoing factors.
The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue
reliance on forward-looking statements. Information contained in forward-looking statements is based upon certain material
assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of
historical trends, current conditions and expected future developments, as well as other considerations that are believed to be
appropriate in the circumstances, including that the list of factors in the previous paragraph, collectively, are not expected to
have a material impact on the Corporation and its subsidiaries. While the Corporation considers these assumptions to be
reasonable based on information currently available to management, they may prove to be incorrect.
Other than as specifically required by applicable Canadian law, the Corporation undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the
occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
Additional information about the risks and uncertainties of the Corporation's business and material factors or assumptions on
which information contained in forward-looking statements is based is provided in its disclosure materials, including its most
recent Management's Discussion and Analysis and Annual Information Form, filed with the securities regulatory authorities in
Canada and available at www.sedar.com.
SOURCE Power Financial Corporation
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