Dividend Select 15 Corp. Declares Monthly Dividend

TORONTO, ONTARIO--(Marketwired - May 17, 2016) - Dividend Select 15 Corp. (the "Company") declares its monthly distribution of $0.06767 per Equity share. The distribution is payable June 10, 2016 to shareholders on record as of May 31, 2016.

Under the distribution policy announced in September 2014, the monthly dividend payable on the Equity shares is determined by applying a 10% annualized rate on the volume weighted average market price (VWAP) of the Equity shares over the last 3 trading days of the preceding month. As a result, Equity shareholders of record on May 31, 2016 will receive a dividend of $0.06767 per share based on the VWAP of $8.12 over the last 3 trading days in April, payable on June 10, 2016. Effectively, the actual amount of monthly distributions paid will vary with the market price, but the current yield will remain stable at 10% (based on the VWAP) under this distribution policy.

Since inception (November 18, 2010) Equity shareholders have received a total of $4.26 per share inclusive of this distribution.

The Company invests in a portfolio of 15 Canadian companies selected from the following 20 company universe which are among the highest Canadian dividend yielding stocks.