Financial 15 Split Corp.
TSX : FTN.PR.A
TSX : FTN

Financial 15 Split Corp.

May 18, 2006 09:00 ET

Financial 15 Split Corp.: Regular Monthly Dividend Declaration

TORONTO, ONTARIO--(CCNMatthews - May 18, 2006) - Financial 15 Split Corp. ("Financial 15") declares its regular monthly distribution of $0.10 for each Class A share ($1.20 annually) and $0.04375 for each Preferred share ($0.525 annually). Distributions are payable June 9, 2006 to shareholders on record as of May 31, 2006.

Since inception Class A shareholders have received a total of $3.50 per share (including two special distributions totaling $0.50 per share) and Preferred shareholders have received a total of $1.34 per share inclusive of this distribution, for a combined total of $4.84.

The fund's investment objectives are:

Preferred Shares:

i. to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04375 per Preferred Share to yield 5.25% per annum on the original issue price; and

ii. on or about December 1, 2008 (termination date), to pay the holders of the Preferred Shares the original issue price of those shares.

Class A Shares:

i. to provide holders of the Class A Shares with regular monthly cash dividends initially targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price; and

ii. on or about December 1, 2008 (termination date), to pay the holders of Class A Shares at least the original issue price of those shares.

Financial 15 invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers, while remaining Canadian content within and RSP. The issuers are 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 Inc., Bank of America, Citigroup Inc., JP Morgan Chase & Co., Merrill Lynch, 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:
Class A Share (FTN): $0.10
Preferred Share (FTN.PR.A) $0.04375
Ex-Dividend Date: May 29, 2006
Record Date: May 31, 2006
Payable Date: June 9, 2006


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