Dividend 15 Split Corp. II
TSX : DF
TSX : DF.PR.A

Dividend 15 Split Corp. II

December 03, 2013 09:41 ET

Dividend 15 Split Corp. II Completes Overnight Offering of $32,530,625

TORONTO, ONTARIO--(Marketwired - Dec. 3, 2013) - Dividend 15 Split Corp. II ("Dividend 15 II") is pleased to announce that it has completed an overnight offering of 1,782,500 Preferred Shares and 1,782,500 Class A Shares. Total gross proceeds of the offering were $32.5 million, bringing the Company's net assets to approximately $116 million. Shares will continue to trade on the Toronto Stock Exchange under the existing symbol DF.PR.A (Preferred Shares) and DF (Class A shares).

The Preferred Shares were offered at a price of $10.00 per Preferred Share to yield 5.25% and the Class A Shares were offered at a price of $8.25 per Class A Share to yield 14.5%, based on the current distribution policy. The offering was co-led by National Bank Financial, CIBC World Markets and RBC Capital Markets and also included BMO Nesbitt Burns Inc., TD Securities Inc., GMP Securities L.P. and Canaccord Genuity Corp.

The proceeds of the secondary offering, net of expenses and the Underwriters' 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 Corp. Thomson-Reuters 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

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.

Contact Information

  • Investor Relations
    416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)
    www.dividend15.com