Fuente: © Nortel Networks
http://www.nortelnetworks.com/

Nortel Declares Preferred Share Dividends

/noticias.info/ OTTAWA – The board of directors of Nortel Networks Limited (the "Company") today declared a dividend in respect of each of the months of May and June on each of the outstanding Cumulative Redeemable Class A Preferred Shares Series 5 [TSX: NTL.PR.F] and the outstanding Non-cumulative Redeemable Class A Preferred Shares Series 7 [TSX: NTL.PR.G]. The dividend amount for each series is calculated in accordance with the terms and conditions applicable to each respective series, as set out in the Company's articles of incorporation. The annual dividend rate for each series floats in relation to changes in the average of the prime rate of Royal Bank of Canada and The Toronto-Dominion Bank during the preceding month ("Prime") and is adjusted upwards or downwards on a monthly basis by an adjustment factor that is based on the respective weighted average daily trading price of each series for the preceding month. The maximum monthly adjustment for changes in the weighted average daily trading price of each series will be plus or minus 4.0% of Prime. The annual floating dividend rate applicable for a month will in no event be less than 50% of Prime or greater than Prime. The dividend on each series in respect of the month of May is payable on June 12, 2008 to shareholders of record of such series at the close of business on May 30, 2008. The dividend on each series in respect of the month of June is payable on July 14, 2008 to shareholders of record of such series at the close of business on June 30, 2008.
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