Restoring stability is at forefront of G7 finance ministers' 3-day meeting in Alberta
Finance Minister François-Philippe Champagne says there's a sense of unity after emerging from a summit with his G7 counterparts. The group of finance ministers and central bankers gathered this week in Banff, Alta., ahead of the G7 leaders' summit set for next month in nearby Kananaskis.
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CBC
an hour ago
- CBC
Speech from OPEC head to kick off Global Energy Show in Calgary
More than 30,000 people from 100 countries are expected to descend on the white-collar heart of Canada's oilpatch next week for the Global Energy Show, which is to kick off with a keynote address from the head of the Organization of the Petroleum Exporting Countries. OPEC secretary-general Haitham al-Ghais is set to deliver remarks on Tuesday morning, as recent output increases from his group's members and other producers have put pressure on global crude prices. Among the other speakers are 20 chief executives from major Canadian and international energy companies and several political leaders, including Alberta Premier Danielle Smith. Energy show organizers say Calgary is expecting a 30 per cent increase in hotel bookings for the conference and trade show, and that exhibition space has been increased by one fifth year-over year. Nick Samain, senior vice-president at DMG Events, said as of two weeks before the event, pre-registrations were 78 per cent higher than last year. He says the show is seeing a big turnaround since the oil bust of 2015 and the COVID-19 pandemic. "There's a sense of optimism that the show really hasn't had in a long time," Samain said in an interview. "Operationally, we've been going crazy to make sure we've got enough room for everybody." The exhibition hall in the newly refurbished BMO Centre on the Calgary Stampede grounds is to feature a record 11 country pavilions and 500 company booths. Event rebranded in 2020 The event was called the Global Petroleum Show until 2020, when it was rebranded to highlight the growing number of non-oil-and-gas participants in the energy space, such as nuclear and renewables firms. Samain said at the trade show, oil and gas makes up about 70 per cent of exhibitors, with other forms of energy making up the rest. The conference comes as U.S. President Donald Trump's tariff war throws global trade into disarray, raising the prospect of a global downturn that could dampen energy demand. The trade strife has driven calls for Canada to diversify its export markets for its energy products beyond its biggest customer, the United States, and remove some of the logjams that have prevented infrastructure from being built over the past several years. Prime Minister Mark Carney has promised to speed up and simplify the regulatory process for projects deemed in the national interest. Samain said the show is an opportunity for people to hash out competing views about Canada's energy future. "We're just big proponents of people meeting face to face," he said. "We find when people get together at an event like this, it really does [give] the opportunity for people maybe to see a different perspective." A week after the Global Energy Show, another major event drawing dignitaries from abroad is to take place in a popular recreation area in the Rocky Mountains an hour west of Calgary. Canada is to host leaders from the United States, France, Germany, Japan, the United Kingdom, Italy and the European Union at the G7 summit from June 15 to 17 in Kananaskis.
CTV News
an hour ago
- CTV News
Spruce Meadows celebrates 50th anniversary by getting its closeup in limited edition Marvel comic
President and CEO Linda Southern-Heathcott, along with Ron Heathcott, Manager of Health, Safety, and Sustainability, unveils the first collectible comic book cover featuring X-Men characters Storm, Wolverine, and Jean Grey, on the Spruce Meadows grounds. Horse culture is meeting comic book culture in a new collaboration between Spruce Meadows in Calgary and Marvel Comics. The Calgary institution revealed the first of four collectible covers Friday on the opening day of its new event Epic Weekends, running alongside the 'Continental' presented by Rolex. The comic book features iconic X-Men characters including Alberta-born Wolverine, Beast, Storm and Jean Grey. The issue is called The Spirit of Spruce Meadows and it blends thrilling action with Spruce Meadows' rich history, throwing in a few comic twists along the way. Spirit of Spruce Meadows The limited edition Marvel comic features familiar X-Men characters as well as the history of Spruce Meadows. (Spruce Meadows) The various collectible covers will debut at summer tournaments scheduled for June and July at Spruce Meadows: the Continental, National, Pan American and North American. Marvel-themed posters will also be unveiled at each event, with comics and posters available free to the 500 guests per day at each tournament. Spruce Meadows will also be celebrating a Marvel-themed Father's Day event next Sunday, June 15. 'We wanted to create a fun and unique keepsake to commemorate our 50th anniversary,' said Linda Southern-Heathcott, Spruce Meadows president and CEO. 'What could be more exciting than bringing the Marvel Universe to Spruce Meadows? I've been a fan of the comics and movies for years. The comic turned out beautifully and I hope everyone loves it as much as I do!' For more information, go here.
Globe and Mail
2 hours ago
- Globe and Mail
Your dividend and DRIP questions answered
How do companies and brokers handle dividend payments when stocks are bought or sold between payout cycles? For example, if I sell a stock a week before the payout date, will I lose out on the full value of that dividend payment? Or, conversely, if I purchase a stock just before the payout date, how much of that dividend will I receive? Depending on when you purchase your shares, you'll either get the full dividend, or no dividend at all. Companies don't prorate the dividend amount based on your purchase date. To be eligible for the dividend, you will need to own the stock on the record date for the next dividend payment. The best way to illustrate this is with a real-life example. On May 28, Bank of Montreal declared a quarterly dividend of $1.63 per common share. The record date for the dividend is July 30, and the payment date is Aug. 26. The payment date is straightforward enough. That's the day the dividend is distributed to shareholders. But the record date requires a bit of an explanation. You might think that purchasing the shares on the record date of July 30 will entitle you to the next dividend. But that's not the case. Because it takes one business day for a stock trade to settle – that is, for the shares and cash to actually change hands – you would need to purchase your shares no later than July 29. That way, you'll be a shareholder of record on July 30 and receive the dividend to be paid on Aug. 26. July 30 is also known as the ex-dividend date, because investors who purchase the shares on or after this date will not get the dividend. The record and ex-dividend dates didn't use to fall on the same day. In the past, when the settlement period for stocks was T+3 (the trade date plus three business days), and later shortened to T+2, the ex-dividend date always came before the record date. But when T+1 settlement was adopted a year ago, the record and ex-dividend dates became the same. With all of that said, it's important to understand that timing your stock purchases in order to receive the next dividend isn't going to put you any further ahead. If you buy before the ex-dividend date, the price you pay will reflect the fact that the dividend is included. If you wait until the ex-dividend date to buy, the price should be lower – all else being equal – because the dividend is no longer included. The price of a stock rarely drops by the exact amount of the dividend. The price could even rise on the ex-dividend date. That's because stock prices are affected by many other factors – such as analyst reports, economic news, general market sentiment and company-specific announcements – that have nothing to do with the dividend. Bottom line: If you like a stock, don't worry about whether you'll buy it in time to receive the next dividend. I am writing to you because this really annoys the stuffing out of me. We have two self-directed accounts, one at TD Direct Investing and the other at RBC Direct Investing. All of our stocks are enrolled in the brokers' respective dividend reinvestment plans (DRIPs). Recently, I noticed that the brokers have been reinvesting dividends from the same company at different prices. For example, TD reinvested my Enbridge Inc. dividends at $62.03 a share, and RBC reinvested at a more attractive price of about $61.30. I checked six other examples, and TD reinvested at a higher price in four cases. Should I be concerned? I don't think so. Reinvestment prices often differ because not all brokers operate their DRIPs in the same way. Some brokers purchase DRIP shares on the dividend payment date using the cash received from the company. Others may acquire shares in the days leading up to the pay date. In some cases, shares are purchased on the open market, while in others they are issued by the company's treasury, in which case it might take longer for the shares to show up in your account. When a security is not eligible for a treasury DRIP, 'we purchase shares on the market on the cash dividend payable date. The shares are then posted to your account at the end of the day,' TD Direct Investing explains on its website. Because share prices are constantly changing, even when two different brokers purchase the same shares on the same day, the price can vary depending on what time the transactions occurred. In your case, the fact that one broker reinvested dividends at a higher price in five of seven cases doesn't indicate to me that anyone is trying to rip you off. Rather, given the small sample size, this seems to be well within the bounds of chance. I suggest you continue to monitor your DRIPs to see if one broker consistently reinvests at higher prices over a longer period of time. I am skeptical that this will be the case, but if a clear pattern emerges, feel free to get back in touch. E-mail your questions to jheinzl@ I'm not able to respond personally to e-mails but I choose certain questions to answer in my column.
