Commerce Split Corp.

Commerce Split Corp.

February 20, 2008 09:00 ET

Commerce Split Corp.: Regular Monthly Dividend Declaration

TORONTO, ONTARIO--(Marketwire - Feb. 20, 2008) - Commerce Split Corp. ("Commerce Split") declares its regular monthly distribution $0.04375 for each Preferred share ($0.525 annually). Distributions are payable March 10, 2008 to shareholders on record as of February 29, 2008.

There will not be a distribution paid to XCM Class A Shares for February 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 Company's investment portfolio currently has approximately $11.00 in CIBC exposure per unit. The Company continues to maintain the required 125% coverage ratio required for the Preferred Portfolio Protection Plan as defined in the Prospectus.

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

Distribution Details:

Class A Share (XCM): nil

Preferred Share (XCM.PR.A) $0.04375

Ex-Dividend Date: February 27, 2008

Record Date: February 29, 2008

Payable Date: March 10, 2008

Contact Information

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