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Subject:  Re: Preferred shares below callable price Date:  2/27/2013  3:58 PM
Author:  Hawkwin Number:  34809 of 36400

Perhaps this is why:
An unlimited number of non-voting preferred shares, without nominal or par value.

For the five-year period from August 1, 2012 and including July 31, 2017, the Series 3 Cumulative Redeemable Preferred Shares carry fixed cumulative preferential cash dividends at a rate of 3.134% or $0.7835 Cdn per share per annum, payable quarterly on the last day of January, April, July and October of each year at a rate of $0.195875 Cdn, if declared.
For each succeeding five-year period, the applicable fixed annual rate of the cumulative preferential cash dividends calculated by the Corporation shall not be less than 80% of the Government of Canada bond yield, as defined in the Articles of Incorporation.
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