Element Financial announced its Board of Directors declared the following dividends on Element’s preferred shares:
- A quarterly dividend of $0.4125 per outstanding Cumulative 5-Year Rate Reset Preferred Share, Series A payable on March 31, 2015 to shareholders of record on the close of business on March 17, 2015. The dividend payment is for the quarterly period up to but excluding March 31, 2015.
- A quarterly dividend of $0.40625 per outstanding Cumulative 5-Year Rate Reset Preferred Share, Series C payable on March 31, 2015 to shareholders of record on the close of business on March 17, 2015. The dividend payment is for the quarterly period up to but excluding March 31, 2015.
- A quarterly dividend of $0.40 per outstanding Cumulative 5-Year Rate Reset Preferred Share, Series E payable on March 31, 2015 to shareholders of record on the close of business on March 17, 2015. The dividend payment is for the quarterly period up to but excluding March 31, 2015.
These dividends are designated to be eligible dividends for purposes of section 89(1) of the Income Tax Act (Canada).