Sentry Select Primary Metals Corp. Announces the Commencement of Monthly Cash Dividend and Strategic Review Process Update
August 11 2009 - 9:32AM
Marketwired
Sentry Select Primary Metals Corp. (the "Corporation") (TSX: PME),
is pleased to announce that the Corporation will commence paying a
cash dividend of $0.05 per Class A share per month. Based on the
net asset value per share on August 6th, 2009 of approximately
$6.41 the dividend represents a cash on cash yield of 9.36%. The
first payment will be made on September 15, 2009 to shareholders of
record on August 31, 2009. As the Corporation has available tax
losses, the dividends are expected to be treated as a return of
capital for tax purposes.
The decision to implement a regular monthly dividend is part of
an ongoing strategic review process being carried out by the
independent members of the Board of Directors of the Corporation
(the "Independent Directors"), as first announced on April 30,
2009. As of August 10, 2009, the Corporation's Class A share price
performance was approximately 76.49% year-to-date and one-year
performance is approximately 28.5%.
The Independent Directors are continuing their review of
strategic alternatives for the Corporation with a view to
maximizing shareholder value. Results of the strategic review
process will be announced as soon as practicable and, should the
Independent Directors conclude that any further action is
warranted, by no later than September 30, 2009.
Sentry Select Primary Metals Corp.
Sentry Select Primary Metals Corp.'s investment objective is to
provide shareholders with long-term capital appreciation by
investing in an actively managed portfolio consisting primarily of
securities of mining and exploration issuers. Although the
Corporation's initial intended focus was to invest in issuers that
are engaged in the production of and/or exploration for uranium,
nickel and molybdenum, the composition of the actively managed
portfolio may be altered at any time.
Sentry Select Capital Inc.
Sentry Select Capital Inc., the manager of the Corporation, is a
Canadian wealth management company that offers a diverse range of
investment products including closed-end investment funds, mutual
funds, principal-protected notes and flow-through limited
partnerships, covering a variety of domestic and global
mandates.
Certain statements included in this news release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions "expect", "intend", "will" and
similar expressions to the extent they relate to the Corporation.
The forward-looking statements are not historical facts but reflect
the Corporation's current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations, including the
ability of the Corporation to pay the indicated dividends on the
dates specified and the timing of the release of the results of the
Corporation's strategic review, if any. Although the Corporation
believes that the assumptions inherent in the forward-looking
statements are reasonable, forward-looking statements are not
guarantees of future performance and, accordingly, readers are
cautioned not to place undue reliance on such statements due to the
inherent uncertainty therein. For a complete disclosure record of
the Corporation, please visit the Corporation's profile at
www.sedar.com.
Sentry Select Primary Metals Corp.
The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615
Contacts: Sentry Select Primary Metals Corp. Investor Services
(broker/investor inquiries and media inquiries) 1-800-730-4623
416-364-1197 (FAX) info@sentryselect.com www.sentryselect.com
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