Commerce Split Corp.
TSX : XCM
TSX : XCM.PR.A

Commerce Split Corp.

August 20, 2008 09:00 ET

Commerce Split Corp.: Regular Monthly Dividend Declaration for Preferred Share

TORONTO, ONTARIO--(Marketwire - Aug. 20, 2008) - Commerce Split Corp. ("Commerce Split") declares its regular monthly distribution $0.04375 for each Priority Equity ("Preferred") share ($0.525 annually). Distributions are payable September 10, 2008 to shareholders on record as of August 29, 2008. There will not be a distribution paid to Commerce Split Class A Shares for August 29, 2008 as per the Prospectus which states no regular monthly dividends or other distributions will be paid on the Class A Shares in any month as long as the net asset value per unit is equal to or less than $12.50. The Net Asset Value as of August 15, 2008 was $11.07.

As detailed in the prospectus the company has adopted a strategy (the Preferred Portfolio Protection Plan) intended to provide that the Preferred Share Repayment amount of the original $10.00 par value will be paid in full to holders of the Preferred shares on the termination date on December 1, 2014.

Commerce Split invests in common shares of Canadian Imperial Bank of Commerce, a Canadian financial institution.



Distribution Details:

Preferred Share (XCM.PR.A) $0.04375

Ex-Dividend Date: August 27, 2008

Record Date: August 29, 2008

Payable Date: September 10, 2008


Contact Information

  • Commerce Split Corp.
    Investor Relations
    (416) 304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)
    Website: www.CommerceSplit.com