Nortel Declares Dividends 577344

On the outstanding Nortel Networks Cumulative Redeemable Class A Preferred Shares Series 5

December 14, 2001

1 Min Read

TORONTO -- The board of directors of Nortel Networks Limited today declared a dividend on the outstanding Nortel Networks Cumulative Redeemable Class A Preferred Shares Series 5 (TSE:NTL.PR.F), the amount of which will be based on the average prime rate of Royal Bank of Canada and Toronto-Dominion Bank during the month of December 2001, multiplied by 80 percent, as determined in accordance with the terms and conditions attaching to such shares. The dividend will be payable on January 14, 2002 to shareholders of record at the close of business on December 31, 2001. The board of directors also declared a second dividend on the outstanding Nortel Networks Cumulative Redeemable Class A Preferred Shares Series 5, the amount of which will be based on the average prime rate of Royal Bank of Canada and Toronto-Dominion Bank during the month of January 2002, multiplied by a percentage to be no more than 84 percent and no less than 76 percent, based on the weighted average trading price of such shares during January 2002, in each case as determined in accordance with the terms and conditions attaching to such shares. The dividend will be payable on February 12, 2002 to shareholders of record at the close of business on January 31, 2002.Nortel Networks Corp.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like