Dividend 15 Split Corp.
TSX : DFN
TSX : DFN.PR.A

Dividend 15 Split Corp.

March 30, 2006 11:56 ET

Dividend 15 Split Corp: Financial Results to November 30, 2005

TORONTO, ONTARIO--(CCNMatthews - March 30, 2006) - Dividend 15 Split Corporation ("Dividend 15") announces its annual financial results for the year ending November 30, 2005.

During the year, Dividend 15 exceeded its targeted distribution objectives. In addition to the regular distributions paid, the Class A shareholders received two special distributions of 25 cents each in August and September 2005. The net asset value per unit (one Preferred Share and one Class A share) increased by $3.25 to $27.78 (after all distributions paid) as at November 30, 2005.

Dividend 15 invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows:



Bank of Montreal National Bank Falconbridge
of Canada

Bank of Nova Scotia CI Financial TELUS Corporation

Canadian Imperial BCE Inc. The Thomson Corporation
Bank of Commerce

Royal Bank of Canada Manulife Financial TransAlta Corporation

Toronto Dominion Bank Enbridge Inc. TransCanada Corporation


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, 2009 (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, 2009 (termination date), to pay the holders of Class A Shares at least the original issue price of those shares.

Please visit our web site at www.dividend15.com.



Selected Financial Information from the Annual Statement of Financial
Operations:
For the year ending November 30 ($ millions)

2005 March 16/04 to
Nov 30/04

Income 6.543 3.791
Expenses (8.184) (1.760)
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Net investment income (1.641) 2.031
Realized option premiums and gain
on sale of investments 13.330 1.600
Change in unrealized appreciation
of investments 34.285 12.847
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Increase (decrease) in net assets
from operations before distributions 45.974 16.478


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