Financial 15 Split Corp. II

Financial 15 Split Corp. II

July 20, 2009 09:00 ET

Financial 15 Split Corp. II: Regular Monthly Dividend Declaration for Preferred Share

TORONTO, ONTARIO--(Marketwire - July 20, 2009) - Financial 15 Split Corp. II ("Financial 15 II") declares its regular monthly distribution of $0.04375 for each Preferred share ($0.525 annually). Distributions are payable August 10, 2009 to shareholders on record as at July 31, 2009. There will not be a distribution paid to Financial 15 II Class A Shares for July 31, 2009 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 $15.00. The net asset value as of July 15, 2009 was $14.71.

Since inception Class A shareholders have received a total of $5.05 per share (including one special distribution of $0.25 per share) and Preferred shareholders have received a total of $2.52 per share inclusive of this distribution, for a combined total of $7.57.

Financial 15 invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Income Fund, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co. Shares held within the portfolio are expected to range between 4-8% in weight but may vary at any time.

Distribution Details:

Preferred Share (FFN.PR.A) $0.04375

Ex-Dividend Date: July 29, 2009

Record Date: July 31, 2009

Payable Date: August 10, 2009

Contact Information

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