Financial 15 Split Corp. II

Financial 15 Split Corp. II

May 18, 2011 09:00 ET

Financial 15 Split Corp. II: Regular Monthly Dividend Declaration for Preferred Share

TORONTO, ONTARIO--(Marketwire - May 18, 2011) - Financial 15 Split Corp. II ("Financial 15 II") declares its regular monthly distribution of $0.04375 for each Preferred share ($0.525 annually). Distributions are payable June 10, 2011 to shareholders on record as at May 31, 2011. There will not be a distribution paid to Financial 15 II Class A Shares for May 31, 2011 as per the Prospectus which states no regular monthly dividends or other distributions will be paid on the Class A Shares in any month as long as the net asset value per unit is equal to or less than $15.00. The net asset value as of May 13, 2011 was $14.75.

Since inception Class A shareholders have received a total of $6.35 per share (including one special distribution of $0.25 per share) and Preferred shareholders have received a total of $3.48 per share inclusive of this distribution, for a combined total of $9.83.

Financial 15 invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Income Fund, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co. Shares held within the portfolio are expected to range between 4-8% in weight but may vary at any time.

Distribution Details:
Preferred Share (FFN.PR.A)$0.04375
Ex-Dividend Date:May 27, 2011
Record Date:May 31, 2011
Payable Date:June 10, 2011

Contact Information

  • Financial 15 Split Corp. II
    Investor Relations
    Toll free at 1-877-4-Quadra (1-877-478-2372)