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Yahoo
26 minutes ago
- Yahoo
Monthly Distribution Declared for Quadravest Preferred Split Share ETF
TORONTO, Aug. 20, 2025 (GLOBE NEWSWIRE) -- Quadravest Capital Management Inc. (the 'Manager') is pleased to declare a monthly distribution for Quadravest Preferred Split Share ETF ('Preferred ETF') as follows: Amount Per Unit: $0.05833 CAD Record Date: August 29, 2025 Payment Date: September 10, 2025 The monthly distribution per unit represents a total of $0.70 annualized based on the initial issue price of $10.00. The investment objectives of Preferred ETF are to provide unitholders with: (a) monthly distributions and (b) the opportunity for capital preservation, primarily through a portfolio of preferred shares of split share corporations. Preferred ETF will seek to achieve its investment objectives by investing in an actively managed portfolio of split corp. preferred shares offered by Canadian split share corporations listed on a Canadian exchange. The Preferred ETF may also invest in preferred shares of other issuers, exchange-traded funds, other investment funds, equities or income-generating securities, and securities that are convertible into any of the above noted securities provided such investments are consistent with the Preferred ETF's investment objectives. Monthly distributions are targeted and will be set at the Manager's sole discretion and may be changed or vary in subsequent periods, as announced by the Manager. If the total return on the portfolio of the Preferred ETF is less than the amount necessary to fund the monthly distributions and all expenses of the Preferred ETF, this will result in a portion of the distributions paid to unitholders being a return of the capital to unitholders and a decrease in NAV per unit. The Manager has assigned Preferred ETF a risk rating of 'low'. For further details, please refer to Preferred ETF's Facts document available on or on Preferred ETF's home page at Founded in 1997, the Manager has a successful track record of creating and managing investment products with approximately $5 billion in assets under management and proudly manages a portfolio of 13 publicly traded investment products including split share corporations and an investment trust. Commissions, management fees and expenses all may be associated with exchange-traded fund investments. Please read the prospectus before investing. Exchange-traded funds are not guaranteed, their values change frequently, and past performance may not be repeated. Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forwardlooking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the fund, to the future outlook of the fund and anticipated events or results and may include statements regarding the future financial performance of the fund. In some cases, forward-looking information can be identified by terms such as 'may', 'will', 'should', 'expect', 'plan', 'anticipate', 'believe', 'intend', 'estimate', 'predict', 'potential', 'continue' or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forwardlooking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances. Investor Relations: 1-877-478-2372 Local: 416-304-4443 info@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26 minutes ago
- Yahoo
Lowe's Boosts Full-Year Revenue Outlook, to Buy Home-Professional Firm for $8.8 Billion
Lowe's posted second-quarter sales growth, raised its full-year revenue outlook and agreed to buy a building-materials company for $8.8 billion. The home-improvement company said Wednesday it agreed to buy Foundation Building Materials, a North American distributor of interior building products, from private-equity firms American Securities and Clayton Dubilier & Rice, in a deal set to bolster the retailer's offerings to its professional customers. Scotts Miracle-Gro Tried Playing Both Sides: Weed Killers, 'Weed' Growers What Are Passkeys—and What Do You Need to Know About Using Them? They Needed a Surrogate, So They Asked a Sibling to Do It Oregon Man Accused of Operating One of Most Powerful Attack 'Botnets' Ever Seen Demand for Rental Housing Drives Unexpected Jump in Building Santa Ana, Calif.-based Foundation, which distributes drywall, metal framing, ceiling systems, commercial doors and hardware, insulation and other products, generated pro-forma sales of about $6.5 billion last year, and has more than 370 locations across the U.S. and Canada, Lowe's said. In the second quarter, Lowe's 'delivered positive comp sales driven by solid performance in both Pro and DIY,' Chief Executive Mavin Ellison said. The Mooresville, N.C., company on Wednesday reported $2.4 billion net income, or $4.27 a share, up from $2.38 billion, or $4.17 a share, a year earlier. Adjusted earnings were $4.33 a share. Analysts were expecting $4.24 a share. Second-quarter revenue rose to $23.96 billion, up from $23.59 billion the year prior. Analysts were expecting revenue of $23.95 billion, according to FactSet. Same-store sales rose 1.1%, in line with analysts' expectations. The housing market has been stubbornly slow as high prices and economic uncertainty continue to turn off buyers. That has cut into Lowe's sales in recent quarters, with fewer consumers undertaking home-improvement projects before selling or after buying a home. For the full year, Lowe's raised its sales forecast to $84.5 billion to $85.5 billion for its current fiscal year, up from its previous guidance of $83.5 billion to $84.5 billion. On a per-share basis, Lowe's lowered its full-year earnings guidance to between $12.10 and $12.35 from the prior range of $12.15 to $12.40. It expects adjusted earnings of $12.20 to $12.45 a share. Analysts expect full-year revenue of $84.38 billion, earnings of $12.22 a share and adjusted earnings of $12.24 a share. Tariffs pose another obstacle for the company, leading to higher import costs and fueling concerns among consumers about rising prices. Lowe's previously said it would focus on competing on price in order to avoid losing market share, but it didn't rule out price increases. Rival Home Depot said Tuesday it planned some modest price increases after saying in May it would keep prices steady. It reported lower-than-expected quarterly earnings and said it was seeing consumers delay larger renovations due to economic uncertainty and high interest rates. Lowe's relies on spending for do-it-yourself products even more than does Home Depot, which has a larger business targeting pro builders. That led analysts to predict that Lowe's would suffer more than its larger competitor from diminished consumer sentiment. A report this week found that same-store foot traffic at Lowe's fell 3.9% from the second quarter last year, compared with Home Depot's 2.6% decline. But Lowe's said the acquisition of Foundation Building Materials from private-equity firms American Securities and CD&R will expand its presence in the professional market. 'With this acquisition, we are advancing our multi-year transformation of the Pro offering,' said Ellison. The transaction is expected to close in the fourth quarter. Lowe's, which recently shelled out $1.33 billion for interior-finishes company Artisan Design Group, said it expects the Foundation acquisition to accelerate its 'Total Home' strategy through expanded capabilities, faster fulfillment, improved digital tools, a robust trade-credit platform and significant cross-selling opportunities. Lowe's said it plans to fund the acquisition through a combination of short- and long-term debt, adding that it plans to maintain its current credit ratings. It has $9 billion in fully committed bridge financing from Bank of America and Goldman Sachs for the deal, which is slated to close by the end of the year, Lowe's said. New York-based American Securities, which invests in North American companies with annual revenue generally ranging from $200 million to $2 billion, took Foundation private in 2021 in a deal valued at about $1.37 billion. New York buyout firm CD&R took a minority stake in Foundation early last year. Write to Nicholas G. Miller at Corrections & AmplificationsLowe's lowered its full-year earnings-per-share guidance. An earlier version of this article incorrectly said that Lowe's raised its full-year earnings-per-share guidance. (Corrected on Aug. 20) Toll Brothers Pulls Back on Home Deliveries Outlook Databricks Raising Funds at $100 Billion Valuation Private Equity Firms' Stocks Are Struggling, Despite Getting Into 401(k)s Flight Attendants Win Boarding Pay, Four-Year Deal, Ending Air Canada Strike Clear Aims to Speed Airport Security Screening With New Tech
Fast Company
28 minutes ago
- Fast Company
Hundreds of Claire's stores aren't closing anymore—here's why
Claire's has found a buyer just two weeks after filing for Chapter 11 bankruptcy protection. It announced on Wednesday, August 20 that it plans to sell its North America business and IP to Ames Watson, a private equity firm. Courts in the U.S. and Canada must approve the sale for it to proceed. The company began bankruptcy proceedings on August 6 with $690 million in debt. However, Claire's hasn't disclosed the amount Ames Wilson would pay for the assets. It did state that the sale will 'significantly benefit' its attempt 'to create value' during restructuring. Finding a buyer has been a critical goal for Claire's. At the time of filing, Claire's CEO Chris Cramer said the company was in 'active discussions with potential strategic and financial partners' to find alternatives to shutting down stores. Claire's had claimed its North American stores would stay open during bankruptcy proceedings, but named 18 locations across the country that would likely close soon. It said another 1,236 stores could close by October 31 if the company didn't find a buyer in time. In light of the agreement, 'Claire's has paused the liquidation process at a significant number of stores.' The stores that will stay open could total as many as 950 in North America, though some stores in the region will continue with liquidation. 'We are pleased to have the opportunity to partner with Claire's and support the next chapter for this iconic brand,' Ames Watson CEO Lawrence Berger said in a statement. 'We are committed to investing in its future by preserving a significant retail footprint across North America, working closely with the Claire's team to ensure a seamless transition and creating a renewed path to growth based on our deep experience working with consumer brands.'
