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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 9, 1974, Lethbridge, Alberta IMPORTANT NEWS to all investors in Canada Savings Bonds The Minister of Finance announced in his Budget on May that the average annual yield to maturity on all unmatured Canada Savings Bonds has been effective from May to The higher yield will be obtained by means of cash bonus payments which for income tax purposes will be considered as capital gains. Who is entitled to receive cash bonus Every holder of unmatured Canada Savings Bonds is entitled to receive cash bonus payments providing that he holds his Bond up to the date that such payments become due. When do the cash bonus payments become On all Canada Savings Bonds maturing on or before November a cash bonus payment becomes due on the date of maturity of the Bond. On all Canada Savings Bonds maturing after November holders will be entitled to receive two cash bonus payments. The first will be payable on November 1979. The second cash bonus will be payable on the date of maturity of the Bond. What is the amount of the cash bonus The actual dollar amount of each cash bonus payment varies with each Series. in every case the dollar amount payable will be sufficient to provide a yield of per annum for the period May to maturity of the Bond. Where Bonds mature after November the first cash bonus payment will provide an average annual yield of from May to October 1979. The second cash bonus payment will also provide an average annual yield of from November to the maturity date of the Bond. How do I receive my cash bonus To receive your cash bonus payments you simply present your Bonds to any authorized Issuing Agent of Canada Savings Bonds any Bank or authorized Trust or Loan Company and Caisse on or after the date on which the payment becomes due. Of a bondholder will not have to cash his Bond when claiming a cash bonus payment which becomes payable before the Bond matures. How do I treat the cash bonus payments when completing my Income Tax The cash bonus payments will be considered as capital gains. When receiving your cash bonus payments a statement will be issued to you indicating the amount pf the cash bonus. This will eliminate any confusion which might arise when completing your Income Tax Return. Can I still cash my Canada Savings Bonds at any Yes. Your Canada Savings Bonds can still be cashed at any time at their full face value plus earned interest. Interest is calculated at the appropriate annual coupon rate for each full month which has elapsed since the date of the last matured coupon. These values are shown on the back of your Bond. It should be that your cash bonus payments are payable only on or after specific dates and you will not be entitled to them unless you hold your Bond to the date that such bonuses become due. Will the Compound Interest Feature be affected by these No. The compound interest feature on outstanding issues of Canada Savings Bonds will not be affected by these changes. Bondholders who are taking advantage of the compound interest feature may continue to do so and will continue to be paid compound interest in the amounts specified at the time of issue of each Series. These amounts are shown on your Bond. Will any of the other features of Canada Savings Bonds be affected by these No. Your Canada Savings Bonds continue to retain all of the features that they offered at the time you bought them. Canada Savings Bonds currently being bought by instalments under the Payroll Savings Plan and the Official Monthly Savings Plan are entitled to the cash bonuses. Payment schedules connected with such instalment purchases remain unchanged. Can I still buy Canada Savings Yes. You can still buy the Series of Canada Savings Bonds at prices as specified under the original terms of this issue. Purchasers of this Series will be entitled to cash bonuses which will be payable on November and at maturity on November 1985. For future reference attach this ad to your Bonds. CASH BONUSES ON UNMATURED CANADA SAVINGS BONDS AMOUNTS PAYABLE ON A BOND TO PRODUCE AIM AVERAGE ANNUAL YIELD OF CANADA SAVINGS BONDS MATURING ON OR BEFORE NOVEMBER 1979 CANADA SAVINGS BONDS MATURING AFTER NOVEMBER 1979 SERIES .1964 1963 1962 1965 Cent. MATURITY DATE November November November November October November November 1.1979 CASH BONUS PAYABLE AT MATURITY DATE 5.50 9.50 13.75 10.25 4.00 20.50 SERIES MATURITY DATE CASH BONUS PAYABLE AT NOVEMBER 1979 MATURITY DATE November 1 November 1 November 1 November 1 November 1 November 1 1980 1980 1981 1982 1984 1985 9.75 7.00 13.50 10.25 10.50 1.25 2.25 6.75 7.50 9.25 'Special Replacement Series The cash bonus payments are in addition to regular annual interest payments and compound interest certificates Finance Finances Canada Savings Bonds are still on sale ;