BMONT Split Corp. Declares Quarterly Dividend on Preferred Shares and Suspension of Capital Share Dividend

About this update from Bahia Metals Corp.

[{"type":"text","content":"\n\n\n\nTORONTO, Jan. 8 /CNW/ - The Board of Directors of BMONT Split Corp. (the\n"Company") has declared today a dividend of $0.3089 per Preferred Share,\npayable on February 5, 2009 to holders of record at the close of business on\nJanuary 27, 2009. Holders of Preferred Shares are entitled to receive\nquarterly fixed cumulative distributions equal to $0.3089 per Preferred Share.\n\n\nThe Company also announced that the Board has changed the dividend policy\non the Capital Shares. As a result of the declining downside asset coverage on\nthe Preferred Shares during the quarter, the Company has determined that any\nexcess of the dividends received by the Company on the Bank of Montreal common\nshares minus the distributions payable on the Preferred Shares and all\nadministrative and operating expenses will be invested in short-term debt\nsecurities or Bank of Montreal common shares until the scheduled redemption of\nthe Company's Capital Shares and Preferred Shares on August 5, 2009.\n\n\nBMONT Split Corp. is a mutual fund corporation created to hold a\nportfolio of common shares of Bank of Montreal. Capital Shares and Preferred\nShares of BMONT Split Corp. are listed for trading on The Toronto Stock\nExchange under the symbols BMT and BMT.PR.A respectively.\n\n\n%SEDAR: 00020962E\n\n\n","length":1357,"tagName":"div"}]

More updates from Bahia Metals Corp.