Dividend Select 15 Corp.

Dividend Select 15 Corp.

October 20, 2014 09:00 ET

Dividend Select 15 Corp.: Further 2.92% Increase to Monthly Dividend

TORONTO, ONTARIO--(Marketwired - Oct. 20, 2014) - Dividend Select 15 Corp. (the "Company") announced last month a change in the distribution policy to the Equity shares that resulted in an immediate 42% increase to the monthly dividend. The Company is pleased to announce a further 2.92% increase to the monthly distribution under the new distribution policy due to the increased market price of the Company's Equity shares. The dividend for October will be $0.08508 per share.

Under the new distribution policy, the monthly dividend payable on the Equity shares will be 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 October 31, 2014 will receive a dividend of $0.08508 per share based on the VWAP of $10.21 over the last 3 trading days in September, payable on November 10, 2014. 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 new distribution policy.

Since inception (November 18, 2010) Equity shareholders have received a total of $2.79 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.

Bank of Montreal Great-West Lifeco Inc. TELUS Corporation
BCE Inc. Husky Energy Inc. The Bank of Nova Scotia
CIBC National Bank of Canada The Toronto-Dominion Bank
CI Financial Corp. Power Corporation of Canada Thomson Reuters Corporation
Enbridge Inc. Royal Bank of Canada TMX Group Inc.
EnCana Corporation Loblaw Companies Limited TransAlta Corporation
Sun Life Financial Inc. TransCanada Corporation
Distribution Details:
Equity Share (DS): $0.08508
Ex-Dividend Date: October 29, 2014
Record Date: October 31, 2014
Payable Date: November 10, 2014

Contact Information

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