Dividend 15 Split Corp.

Dividend 15 Split Corp.

June 03, 2013 12:39 ET

Dividend 15 Split Corp.: Shareholders Vote Overwhelmingly in Support

TORONTO, ONTARIO--(Marketwired - June 3, 2013) - Dividend 15 Split Corp. (the "Company") is pleased to announce that shareholders have voted over 99% in favor of management's proposals at a shareholder meeting held earlier today. Management would like to sincerely thank shareholders and their advisors for this overwhelming level of support.

Shareholders were asked to approve the extension of the termination date to December 1, 2019. This proposal was approved by 99.4% of the Class A Shareholders and 99.8% of the Preferred Shareholders.

Shareholders were also asked to consider a proposal that would allow the merger of the cash assets of two Funds (Capital Gains Income STREAMS Corporation and Income STREAMS Corporation) into the Company on December 1, 2013. This proposal was approved 99.2% by Class A Shareholders and 99.6% by Preferred Shareholders. This transaction is contingent upon further approvals from the shareholders of the other two terminating Funds and all other required regulatory approvals.

Dividend 15 has exceeded its distribution objectives since 2004 despite some periods of very challenging markets. Class A Shareholders and Preferred Shareholders have received 110 consecutive distributions totaling $14.50 and $4.83 respectively. The Class A shares trade on the TSX under the symbol DFN and recently closed at $11.24 with a current yield of 10.68%. The Preferred shares trade under the symbol DFN.PR.A and recently closed at $10.39 with a current yield of 5.05%.

Contact Information

  • Dividend 15 Split Corp.
    Investor Relations
    416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)