Dividend 15 Split Corp.

Dividend 15 Split Corp.

December 13, 2010 12:21 ET

Dividend 15 Split Corp.: Files a Final Prospectus for an Offering of $63,800,000

TORONTO, ONTARIO--(Marketwire - Dec. 13, 2010) - Dividend 15 Split Corp. (the "Company") has filed a final prospectus for its secondary offering of 2,900,000 Preferred Shares and 2,900,000 Class A Shares of the Company for aggregate gross proceeds of $63,800,000, bringing the Company's net assets to approximately $331 million. The expected closing date is December 17, 2010. Shares will continue to trade on the Toronto Stock Exchange under the existing symbols DFN (Class A Shares) and DFN.PR.A (Preferred Shares).

The Preferred Shares were offered at a price of $10.00 per share to yield 5.25% based on current distribution policy. The Class A Shares were offered at a price of $12.00 per share to yield 10.00% based on current distribution policy. RBC Capital Markets and CIBC World Markets were co-lead agents for the offering.

The proceeds from the secondary offering of the Company, net of expenses and the Agents' fee, will be used by the Company to invest in an actively managed portfolio of dividend-yielding common shares which includes each of the 15 Canadian companies listed below. These are currently among the highest dividend-yielding securities in the S&P/TSX 60 Index:

Bank of Montreal   Enbridge Inc.   TELUS Corporation
The Bank of Nova Scotia   Manulife Financial Corporation   The Thomson Corporation
BCE Inc.   National Bank of Canada   The Toronto-Dominion Bank
Canadian Imperial Bank of Commerce   Royal Bank of Canada   TransAlta Corporation
CI Financial Corp.   Sun Life Financial Inc.   TransCanada Corporation

Since inception the Company has made 80 consecutive distributions to both the Class A shareholders and the Preferred shareholders. Class A shareholders have received a total of $11.50 per share (including five special distributions of $0.25 per share, one special distribution of $0.50 per share and one special stock dividend of $1.75 per share) and Preferred shareholders have received a total of $3.52 per share, for a combined total of $15.02 per unit.

A copy of the final prospectus is available from RBC Capital Markets and CIBC World Markets, or at www.dividend15.com.

Commissions, trailing commissions management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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