PACIFIC & WESTERN TO PAY QUARTERLY DIVIDEND ON CLASS "B" PREFERRED SHARES
LONDON, Sep. 2, 2010 (Canada NewsWire via COMTEX) --
Pacific & Western Credit Corp. (TSX:PWC) will pay a quarterly dividend on its outstanding Class "B" Preferred Shares on September 30, 2010 at the rate of $2.25 per annum. The dividend will be in the amount of $0.563 per Class "B" Preferred Share, comprised of $0.21 cash and $0.353 in common shares of PWC. The number of common shares to be issued is based on the volume weighted average trading price of PWC's common shares on the TSX, and will result in .118 common shares per Class "B" Preferred Share, subject to rounding calculations for fractional shares.
The dividend to which this notice relates is payable on September 30, 2010 to Class "B" Preferred Shareholders of record at the close of business on September 10, 2010, and is an eligible dividend for tax purposes.
Pacific & Western Credit Corp.'s Class "B" Preferred Shares trade on the TSX under the symbol PWC.PR.B.
Pacific & Western Credit Corp.'s common shares trade on the TSX under the symbol PWC.
On behalf of the Board of Directors: David R. Taylor, President & C.E.O.
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SOURCE: Pacific & Western Credit Corp.
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