More than 700,000 Quebecers are now Fonds shareholders, an equivalent to more than 1 worker out of 7
Financial highlights for the fiscal year ended May 31, 2019:
- Share value at $43.90 (up $2.29 over January 2019 and $3.17 over July 2018);
- Annual return of 7.8%;
- Annual comprehensive income (profit) of $1.134 billion;
- Net assets grow to $15.6 billion;
- Investments of $1.2 billion in the Québec economy.
Montréal, September 28, 2019 – At the Annual General Meeting, Fonds de solidarité FTQ President and CEO Gaétan Morin announced to shareholders that the Fonds will soon have returned $10 billion of savings in the form of share redemptions to its shareholders since the organization’s creation. As well, the Fonds now has more than 700,000 shareholders-savers, or the equivalent of more than one worker out of seven. These new figures are in addition to the Fonds’ results for the fiscal year ended May 31, 2019.
“Helping Quebecers save for retirement is at the heart of the Fonds de solidarité FTQ’s mission. With a record 700,000 shareholders, we can also say that retirement savings is also an important issue for a growing number of Québec workers,” said Mr. Morin. “Since 1983, the Fonds has shown that it is possible to offer retirement-savings with a reasonable rate of return, while supporting good quality jobs.”
“While paying out $10 billion dollars to its shareholders since 1983, the Fonds de solidarité FTQ has continued to play its role in the Québec economy, as illustrated by the $1.2 billion invested in the past fiscal year,” stated Mr. Morin. This would not have been possible without the trust of our shareholders and partner companies, not to mention the dedication of our employees and local representatives.”
The shareholder’s annual compound return (excluding tax credits) as at May 31, 2019 is 7.8% for 1 year, 8.1% for 3 years, 7.7% for 5 years and 7.3% for 10 years.
2019-2020 share issue
As has been the case in the past, in order to maintain a balanced business model, the Fonds de solidarité FTQ may limit the issuance of shares during the financial year.
In such a case, the Fonds will issue a press release explaining the conditions of the share issue cap. The Fonds will give priority to any existing subscription agreements involving payroll deduction, employer contributions or preauthorized withdrawals and will continue issuing shares throughout the year in accordance with these agreements. For individuals who purchase shares with a lump-sum payment, the Fonds will issue shares on a first come, first served basis.
Information on the Fonds’ share redemption criteria and share issuance can be found in its Short Form Prospectus (36th edition), available on its website.
New announcement dates for financial results
Share value, which is the same for issues, redemptions and purchases-by-agreement, is generally determined twice a year on the basis of the Fonds de solidarité FTQ's net assets as at November 30 and May 31. For the first time, beginning in the current six-month period, and for subsequent six-month periods, the share value will be published through a press release around December 31 and June 30 each year. Previously, the share value was published around January 5 and July 5.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $15.6 billion in net assets as at May 31, 2019, the Fonds has helped create and protect 215,104 jobs. The Fonds has 3,126 partner companies and today has more than 700,000 shareholders-savers.
Please read the prospectus before buying shares of the Fonds de solidarité FTQ. Copies of the prospectus may be obtained online at 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.
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