Dividend 15 Split Corp. II

Dividend 15 Split Corp. II

April 10, 2014 09:28 ET

Dividend 15 Split Corp. II Completes Overnight Offering of $41,167,125

TORONTO, ONTARIO--(Marketwired - April 10, 2014) - Dividend 15 Split Corp. II (the "Company") is pleased to announce it has completed an overnight offering of 2,225,250 Preferred Shares and 2,225,250 Class A Shares. Total gross proceeds of the offering were $41.2 million, bringing the Company's net assets to approximately $153.7 million. Shares will 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 share to yield 5.25% annually and the Class A Shares were offered at a price of $8.50 per share targeting to yield 14.1%, based on the current distribution policy.

The offering was co-led by National Bank Financial Inc., CIBC and RBC Capital Markets and also included BMO Capital Markets, TD Securities Inc., GMP Securities L.P. and Canaccord Genuity Corp.

The net proceeds of the secondary offering 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:

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. Please read the Company's publically filed documents which are available at www.sedar.com.

Contact Information

  • Investor Relations
    416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372)