Dividend 15 Split Corp.

Dividend 15 Split Corp.

November 18, 2009 14:18 ET

Dividend 15 Split Corp.-Rights Offering

TORONTO, ONTARIO--(Marketwire - Nov. 18, 2009) - Dividend 15 Split Corp. (the "Company") is pleased to announce that it has issued 1,181,421 Units for an aggregate of $23.3 million pursuant to the Rights offering that expired on November 16, 2009 at 4:00 p.m. (local time). The net proceeds from the subscription of Units will be used to acquire additional securities in accordance with the Company's Investment objectives. By raising additional cash through this offering it allows the Company to capitalize on certain attractive investment opportunities that may arise over the next few months. In addition, the offering is expected to increase the trading liquidity of the Company and reduce the management expense ratio.

Both the Preferred Shares and Class A Shares trade on the Toronto Stock Exchange (the "TSX") under the symbol "DFN.PR.A" and "DFN" respectively.

The Company was created to provide investors with a high quality portfolio of leading Canadian dividend yielding stocks. The Company invests in: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Income Fund, BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, TELUS Corporation, The Thomson Corporation, TransAlta Corporation and TransCanada Corporation. Shares held within the portfolio are expected to range between 4-8% in weight but may vary at any time. The Class A shareholders receive monthly distributions of $1.20 per share annually. The Preferred shareholders receive $0.525 per share annually. The company offers a low management fee and opportunity for growth in the net asset value.

Since inception Class A Shareholders have received a total of $10.20 per share (including five special distributions of $0.25 each per share and one special of $0.50 and one stock dividend of $1.75 per share) and Preferred Shareholders have received a total of $2.95 per share, for a combined total of $13.15 per share.

For further information please visit www.dividend15.com.

Contact Information

  • Dividend 15 Split Corp.
    Investor Relations
    416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)