Commerce Split Monthly Dividend Declared for Class I and Class II Preferred Shares

TORONTO, ONTARIO--(Marketwired - May 17, 2016) - New Commerce Split (the "Company") declares its monthly distribution of $0.025 per share ($0.30 annually) for Class I Preferred shareholders (YCM.PR.A) and $0.03125 per share ($0.375 annually) for Class II Preferred shareholders (YCM.PR.B). The Class I Preferred share dividends are paid at an annual rate of 6.00% based on the $5 repayment amount. Class II Preferred share dividends are paid at an annual rate of 7.50% based on their $5 repayment amount. Distributions are payable June 10, 2016 to shareholders on record as of May 31, 2016.

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