Dividend 15 Split Corp.

Dividend 15 Split Corp.

March 18, 2005 09:00 ET

Dividend 15 Split Corp.: Regular Monthly Dividend Declaration


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: DIVIDEND 15 SPLIT CORP.

TSX SYMBOL: DFN
TSX SYMBOL: DFN.PR.A

MARCH 18, 2005 - 09:00 ET

Dividend 15 Split Corp.: Regular Monthly Dividend
Declaration

TORONTO, ONTARIO--(CCNMatthews - March 18, 2005) - Dividend 15 Split
Corp. (TSX:DFN)(TSX:DFN.PR.A) ("Dividend 15") declares its regular
monthly distribution of $0.10 for each Class A share ($1.20 annually)
and $0.04375 for each Preferred share ($0.525 annually). Distributions
are payable April 8, 2005 to shareholders on record as of March 31, 2005.

Since inception Class A shareholders have received a total of $1.20 per
share and Preferred shareholders have received a total of $0.55 per
share inclusive of this distribution, for a combined total of $1.75.

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.

Dividend 15 invests in a high quality portfolio of leading Canadian
dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova
Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada,
Toronto-Dominion Bank, National Bank of Canada, Brascan Corporation, BCE
Inc., Dofasco Inc., Enbridge Inc., TELUS Corporation, The Thomson
Corporation, TransAlta Corporation, TransCanada Corporation. Shares held
within the portfolio are expected to range between 4-8% in weight but
may vary at any time.



Distribution Details:
Class A Share (DFN): $0.10
Preferred Share (DFN.PR.A) $0.04375
Ex-Dividend Date: March 29, 2005
Record Date: March 31, 2005
Payable Date: April 8, 2005


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