Series 3 Shares definition
Examples of Series 3 Shares in a sentence
The annual dividend rate for the five-year period from and including March 31, 2019 up to but excluding March 31, 2024 will be 6.01%, being 4.20% over the five-year Government of Canada bond yield, as determined in accordance with the rights, privileges, restrictions and conditions attaching to the Series 3 Shares.
Nina Matis, our chief legal officer and chief investment officer, owns 375 of each of the HPU Series 1 Shares, HPU Series 2 Shares and HPU Series 3 Shares (approximately 7.50% of each of the outstanding HPU Series 1 Shares, HPU Series 2 Shares and HPU Series 3 Shares).
The HPU Series 1 Shares were entitled, in the aggregate, to participate in the same amount of dividends paid on 819,254 Shares, the HPU Series 2 Shares were entitled, in the aggregate, to participate in the same amount of dividends paid on 987,149 Shares and the HPU Series 3 Shares were entitled, in the aggregate, to participate in the same amount of dividends paid on 1,031,875 Shares.
KML has authorized share capital consisting of an unlimited number of KML Restricted Voting Shares, an unlimited number of KML Special Voting Shares and an unlimited number of preferred shares issuable in series, of which 34,944,993 KML Restricted Voting Shares, 81,353,820 KML Special Voting Shares (together with 81,353,820 associated Class B Units), 12,000,000 KML Series 1 Shares and 10,000,000 KML Series 3 Shares are issued and outstanding as of the date hereof.
The amount of the dividends payable per share of Series 3 Shares for each quarterly dividend period shall be computed by dividing the annual dividend amount by four.
The Underwriters’ fee set forth in the table assumes that no Series 3 Shares are sold to such institutions.
The holders of the Series 3 Shares shall be entitled to a dividend of seven percent (7%) per annum of the Stated Value (as defined below), on a cumulative basis.
With respect to the Series 3 Shares outstanding on or after April 1, 2019, holders of the Series 3 Shares are entitled to receive quarterly fixed, cumulative, preferential cash dividends, as and when declared by the company's Board of Directors, subject to compliance with the provisions of the Canada Business Corporations Act.
Holders of Series 3 Shares shall have no voting rights, except as required by law.
The Underwriters’ fee indicated in the table assumes that no Series 3 Shares are sold to such institutions.