May 27, 2022

The Queens County Citizen

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Strong demand for shares of Capital Regional and Cooperative Desjardin‌

Strong demand for shares of Capital Regional and Cooperative Desjardin‌

Demand for shares of (Montreal) Capital Regional and Cooperative Desjardines (CRCD) has exceeded the official limit of $ 140 million for pre-subscription 2021, the investment fund announced Monday.

During the pre-subscription period from August 30 to September 20, 54,104 people completed an application to subscribe to a total of $ 158.9 million shares, or an average of $ 2,936 per investor.

Of these, 47,700 Quebec taxpayers were selected through a process conducted under the supervision of the Bureau de la Surveillance du Moz‌ment deszardins. The purchase of CRCD shares provides 30% provincial tax credit entitlement to a maximum investment of $ 3,000.

Twentieth Anniversary

Mary-Helen Nolet, COO of Desjardines Capital, the company that manages the CRCD Fund, took advantage of the 20-year opportunity to invest. “Over the past 20 years, CRCD and its partners have committed $ 3.276 billion to more than 1,200 businesses, cooperatives and funds through funding.”

One-third of businesses are in resource areas and three-quarters are from areas other than Montreal and Capitol-National, she said.

Montreal remains the highest-invested region with the support of 208 companies, representing a total of $ 98 million over 20 years. Monterey was second with 141 businesses and $ 563 million.

CRCD has approximately 109,000 shareholders. As of June 30, 2021, it has committed $ 1.6 billion to support the growth of 610 companies. Its net worth is $ 2.4 billion, still as of June 30.

In the first six months of the year, the fund returned 7.8%. In seven years, that is, the minimum mandatory holding period for CRCD shares, the compound return on share is 5.6%, plus the tax credit earned on the acquisition.

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