Trades in U.S. Currency
January 12, 2009
FORT WAYNE, Ind. - Beginning the opening of trading on Friday, Jan. 2, 2009, WaterFurnace shares are quoted and traded on the Toronto Stock Exchange in both U.S. and Canadian currency. Currently the company reports results in U.S. dollars and pays dividends in U.S. dollars, but trades only in Canadian currency. From now on, shares can be bought and sold in either currency. Transactions in Canadian currency will be listed under WFI on the Toronto Stock Exchange. Shares traded in U.S. currency will be listed under WFIU. Individuals buying and selling stock will be able to specify which currency they want to use.
“The reason for adding the U.S. currency option is to make it easier for investors to calculate the various ratios used to value stocks without having to constantly look up currency rates and do the translations,” said Bruce Ritchey, president and CEO of WaterFurnace. “It should also protect investors who may not have noted the fact that results are in U.S. dollars and selling price was in Canadian dollars. The recent large and rapid fluctuations in value between U.S. and Canadian currency have made it especially important to resolve this long-standing issue. The move will also save the cost of currency exchange charges for those investors who trade in U.S. dollars.”
For more information, visit www.waterfurnace.com.
Publication date: 01/12/2009