Company Details

Directors and Officers

The following are the names, office(s) held and principal occupations of the directors and officers of the Company:

Patrick C. Lincoln
Director
(Corporate Director)

Robert C. Williams
Director
(Chairman, Morrison Park Advisors)

Massimo Ceschia
Chief Financial Officer, Secretary and Director
(Director, Scotia Capital Inc. )

David M. Mann
Director
(Corporate Director)

Brian D. McChesney
Director, President & CEO
(Corporate Director)

Robert Hall
Director
(Managing Director, Scotia Capital Inc.)


Profile

NewGrowth Corp. invests its funds in common shares of publicly-listed securities of selected Canadian chartered banks, telecommunications, oil and gas, utility and pipeline companies in order to generate dividend income for holders of its Preferred Shares and to enable the holders of the Company's Capital Shares to participate in any capital appreciation in the portfolio shares.

Summary Statistics as at 01/17/2019

HideUnits
Net Asset Value (NAV) per Unit $74.30
Units Outstanding 1,425,032
Market Capitalization $104,041,586
Expense Ratio 0.46%
IPO Date 06/20/1992
Redemption Date 06/26/2019

HidePreferred Shares
Ticker Symbol NEW.PR.D
Issue Price $32.07
Market Price (TSX) $32.14
Current Yield 4.14%
Downside Protection 56.84%

HideCapital Shares
Ticker Symbol NEW.A
Issue Price $1.93
Market Price (TSX) $40.87
Net Asset Value $42.23
Premium/(Discount) to NAV -3.23%
Leverage Factor 1.82

General Information

Distribution Policy

The Company's dividend policy is to pay quarterly fixed cumulative preferential dividends of $0.3327 per Class B Preferred Share. For historical dividend amounts, please see distribution information.

Retraction Rights

The following provides a summary of the retraction rights available to shareholders. Please refer to the prospectus for complete details.

Unlike most mutual funds the Capital and Preferred Shares are listed allowing holders to exit by selling their Shares. In addition, they are also retractable at any time. Because of the manner in which the retraction prices are calculated, investors are almost always better off selling their Shares on the market rather than retracting them. It should be noted that all the retractions listed below constitute a taxable disposition of the Company's Shares at the time of the retraction whether the retraction is received in the form of cash or portfolio shares.

Regular Retraction

Capital and Preferred Shares may be surrendered for retraction at any time for payment on the twenty-sixth day of each month or the preceding business day. Capital Shareholders are entitled to receive 95% of the unit value less the cost of purchasing a Preferred Share, less $1.00. Preferred Shareholders who elect to retract are entitled to a payment equal to 95% of the unit value less the cost of purchasing a Capital Share in the market, less $1.00.

Concurrent Retraction

A holder who concurrently retracts one Capital Share and one Preferred Share will be entitled to receive 95% of the unit value, less $1.00.

Special Annual Retraction

The special annual retraction date occurs on June 26th of each year. On that date Capital Shareholders are entitled to receive the amount, if any, by which the unit value exceeds $32.07. If the holder tenders one Capital Share and one Preferred Share, then the holder is entitled to receive an amount equal to the unit value. If the holder tenders 10,000 or more Capital Shares and $32.07 in cash or one Preferred Share for each tendered Capital Share, such holder may instead choose to receive a pro rata interest in the common shares held by the Company.

Redemption

The Company may redeem Preferred Shares on any annual retraction date at a price per share equal to $32.07 to the extent that Capital Shares are retracted under a special annual retraction.

Taxation

Dividends other than the capital gains dividends received by individuals on the Preferred or Capital Shares will be subject to the normal gross-up and dividend tax credit rules applicable to dividends received on shares of a taxable Canadian corporation.

The amount of any capital gains dividend received by a holder of Preferred or Capital Shares will be considered to be a capital gain in the taxation year in which the capital gain is received.

The Company qualifies as a "mutual fund corporation" and a "financial intermediary corporation" as defined in the Income Tax Act (Canada). As a result thereof and after deduction of expenses in computing its income, the Company does not anticipate that it will be subject to any material non-refundable income tax liability.



Legal Notices

You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the TSX (or other eligible market) where the investment fund is listed and quoted. If the units are purchased or sold on the TSX or other market, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents. The indicated rates of return on this site are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption fees or optional charges or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.