Endowment Payout Rate for Fiscal 2018 to be Distributed in April 2018 (PDAD&C #72)
|From:||Sheila Brown, Chief Financial Officer|
|Date:||March 21, 2018|
|Re:||Endowment Payout Rate for Fiscal 2018 to be Distributed in April 2018 (PDAD&C #72)|
The endowment payout rate for 2018 will be $8.02 per unit, an increase of 2% from last year’s payout rate. This payout represents 3.56% 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 $84.4 million to beneficiaries.
More information on endowments is available in the endowment annual financial report. The annual payout for 2018 will be distributed by Friday April 20, 2018. If you have any questions about the payout for this year, please contact:
Manager, Accounting Services