Investment Shares

Investment Shares help Kindred build capital, which contributes to our long-term sustainability and prepares us for future growth. Kindred issued Class B Investment Shares to members in 2005 and 2019.

The Credit Union offered for sale to its members, at $1.00 per share, Class B Non-Cumulative, Non-Voting, Non-Participating, Redeemable Special Shares, Series 2005 (“Class B Special Shares, Series 2005”), and Series 2019 (“Class B Investment Shares, Series 2019”) in the capital of the Credit Union. Class B Investment Shares, Series 2005 and Series 2019, are special, non-membership shares and constitute part of the authorized capital of the Credit Union.

Series 2005 - subscriptions were accepted from members of the Credit Union for a minimum of 1,000 shares ($1,000) and a maximum of 200,000 shares ($200,000). Until June 30, 2024, the rate of return is the fixed rate of 4.25%, or the 12 month average of the monthly Government of Canada 5-year bond benchmark yield plus 1%, whichever is higher.

Series 2019 - subscriptions were accepted from members of the Credit Union for a minimum of 5,000 shares ($5,000) and a maximum of 500,000 shares ($500,000). Until June 30, 2024, the rate of return is the fixed rate of 4.25%. These shares are not redeemable for five years following their issuance, except when the shareholder dies or is expelled from membership in the Credit Union.

All redemptions are also subject to a limit (of 10% of the number of the Class B Investment Shares, Series 2005 and Series 2019, issued and outstanding at the end of the prior fiscal year) on the maximum number of shares that can be redeemed in any fiscal year and are subject to approval by Kindred’s Board of Directors.

After June 30, 2024, the rate of return for both the Series 2005 and Series 2019 will be the 12 month average of the monthly Government of Canada 5-year bond benchmark yield plus 1%.

Transfer of such shares will only be processed through the Credit Union, and transfers are restricted to other members of the Credit Union.

Excerpted and adapted from the 2005 Offering Statement dated March 31, 2005 and the 2019 Offering Statement dated March 31, 2019.

Transfers

Members are able to transfer shares to other members who wish to purchase them.

Divestment Requests

The regulations regarding Investment Shares require that members who wish to divest complete an Investment Shares Transfer Request – Seller form. Members are then added to a waiting list of sellers, which is periodically matched with a corresponding list of potential buyers, thereby transferring shares.

Members who wish to transfer (i.e., sell) Investment Shares should be aware that requests to transfer shares can take some time. Members cannot count on immediate liquidity should they need to access funds unexpectedly.

Purchase Requests

Members who wish to purchase Investment Shares can complete an Investment Shares Buyer form and be added to the waiting list. This applies to both the 2019 and 2005 Series of Investment Shares.

Rate of Return

The dividend rate for 2019 Class B Investment Shares is 4.25% for the first five years1. After that time, the dividend formula is the monthly average of the Government of Canada 5-year benchmark bond yield plus 1%. As of the 2019 Series issue date of July 1, 2019, shareholders of the 2005 Series will receive the 4.25% dividend rate or a dividend rate based on the current formula, whichever is higher2.

Please call or visit your local branch to learn more about Kindred Investment Shares.


1 Dividends are not guaranteed and are declared at the discretion of Kindred’s Board of Directors.

2 The annual declared dividend for the 2005 Class B Investment Shares was set at a minimum of 4.25%, beginning in 2019.

 
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Historical Dividend Rates
Declared Dividend 2018 3.14%
Declared Dividend 2017 2.50%
Declared Dividend 2016 2.50%