Endowment Payout Rate for Fiscal 2017 to be Distributed in April 2017 (PDAD&C #72)
|From:||Sheila Brown, Chief Financial Officer|
|Date:||March 15, 2017|
|Re:||Endowment Payout Rate for Fiscal 2017 to be Distributed in April 2017 (PDAD&C #72)|
The endowment payout rate for 2017 will be $7.86 per unit, an increase of 2% from last year’s payout rate. This payout represents 3.88% of the opening market value of the endowments, within the 3% to 5% corridor that is in place, and the distribution will provide a total of about $81.1 million to beneficiaries.
More information on endowments can be found in the Endowment Annual Financial Report, available online. The annual payout for 2017 will be distributed by Friday, April 21. If you have any questions about the payout for this year, please contact:
Manager, Accounting Services