insane dividends

[wzebra33]

Jovian Capital Corp. (TSX:JOV) says it plans a special dividend of $3 per common share.

The Toronto-based wealth and asset manager says the dividend is based on proceeds from two sales made a year ago — the Horizons ETFs business sold last November and MGI Financial Inc. sold in October 2011.

The dividend will be paid Dec. 13 to shareholders of record on Nov. 28.

Jovian said the payment coincides with the release of funds from escrow and a reduction in Jovian's potential indemnification liabilities with respect to the Horizons ETFs transaction.

The Jovian group of companies oversees some $6.4 billion of client assets —$5 billion in client assets managed or advised and $1.4 billion in assets under administration.