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Member Dividends

On Friday, April 13 some Members will be receiving deposits to their accounts for Preferred Share Dividends. Here’s what you need to know:

  • Preferred Share Dividends are paid on uninsured Preferred Shares that were purchased by Members of Lakewood and Kenora District Credit Unions
  • Paid on Preferred Shares outstanding as at December 31, 2017
  • A total of $93,220 is being paid out, equal to a rate of 3.45%, which is slightly higher than the last few years
  • Dividends on Registered Preferred Shares will be paid into a Registered Savings Account, while Dividends on Non-Registered Preferred Shares will be paid into a Non-Registered Savings Account
  • Dividends are taxable and will be included in interest income on your 2018 T5
These are not the only dividends we’re paying this year! Over $300,000 more will be shared later this year; watch for more details then, and if you have any questions please don’t hesitate to reach out.


 

 

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