Financial 15 Split Corp. II
TSX : FFN
TSX : FFN.PR.A

Financial 15 Split Corp. II

August 18, 2005 09:01 ET

Financial 15 Split Corp. II Regular Monthly Dividend Declaration

TORONTO, ONTARIO--(CCNMatthews - Aug. 18, 2005) - Financial 15 Split Corp. II ("Financial 15 II") (TSX:FFN)(TSX:FFN.PR.A) 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 September 9, 2005 to shareholders on record as at August 31, 2005.

Since inception Class A shareholders have received a total of $1.00 per share and Preferred shareholders have received a total of $0.46 per share inclusive of this distribution, for a combined total of $1.46.

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.

Financial 15 II 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, CIBC, Royal Bank, Toronto-Dominion Bank, National Bank of Canada, ManuLife Financial, Sun Life Financial, Great-West Lifeco, CI Fund Management, Bank of America, Citigroup, JP Morgan & Chase, Merrill Lynch, Wells Fargo. Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time.



Distribution Details:

Class A Share (FFN): $0.10

Preferred Share (FFN.PR.A) $0.04375

Ex-Dividend Date: August 29, 2005

Record Date: August 31, 2005

Payable Date: September 9, 2005



Contact Information