In the first six months of its 2017-2018 financial year, the Fonds de solidarité FTQ posted comprehensive income (profit) of $314 million for the benefit of its 667,000 savers. Share value is now $41.61, for a shareholder return of 2.2% for the six-month period ended November 30, 2018, and a 12-month return of 5.8%. Net assets grew to $14.8 billion.
“Once again, this result was possible in thanks to our investments in private Québec companies, as well as the continued efforts of all our employees and local representatives throughout Québec,” said Gaétan Morin, President and Chief Executive Officer, Fonds de solidarité FTQ.
During the six-month period ended November 30, 2018, the Fonds invested $464 million of development capital in companies that have economic spinoffs for Québec. A $55.8 million investment in Québec City-based Groupe Océan with contribute to the company’s expansion in Canada and its growth in international markets. Another $50 million investment in Montréal’s Stingray contributed to the company’s acquisition of NCC, one of Canada’s largest radio broadcasters.
During their first semester, the Fonds régionaux de solidarité FTQ invested $61.1 million, namely in 33 new partner companies.
“Our economy is changing, and Québec companies must continue to invest and to adapt to new realities. Our entrepreneurs must have access to the necessary resources to better deal with the new challenges they will face. The Fonds will be at their side to help them support good quality jobs, right here in Québec, as we have been for 35 years.”
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4 other ways to contribute more with the Fonds:
- At work with your LR
- At a point of service
- By phone
- By mail
The Fonds’ compound annual shareholder return (excluding tax credits) is 5.8% for 1 year, 7.4% for 3 years, 7.3% for 5 years and 7.0% for 10 years.
Share issue for 2018-2019
As it has been the case in the past, as well as stated in its Short Form Prospectus published last July, the Fonds may limit the number of shares it issues. In light of its capital-raising objectives for the current financial year, the Fonds will announce by press release a share issue cap in the weeks ahead. For this reason, the Fonds will not be accepting post-dated cheques until June 1, 2019. The announcement will only affect shareholders who make lump-sum contributions. The Fonds will continue to accept deposits from shareholders enrolled in payroll deduction and pre-authorized withdrawals.
Please read the prospectus before buying shares of the Fonds de solidarité FTQ. Copies of the prospectus may be obtained on the Website fondsftq.com, from a local representative or at the offices of the Fonds de solidarité FTQ. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends and do not take into account income taxes payable by any security holder that would have reduced returns. The shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.