GlobalBanc Advantaged 8 Split Corp.

GlobalBanc Advantaged 8 Split Corp.

September 21, 2009 08:00 ET

GlobalBanc Advantaged 8 Split Corp. Announces Dividend and Revised Dividend Policy

TORONTO, ONTARIO--(Marketwire - Sept. 21, 2009) - GlobalBanc Advantaged 8 Split Corp. (TSX:GBA)(TSX:GBA.PR.A) announces a distribution of $0.005 per Preferred Share for the quarter ending September 30, 2009. The distribution will be paid on October 13, 2009 to holders of record on September 30, 2009. A distribution will not be paid on the Class A Shares for the quarter ending September 30, 2009.

The Board of Directors has again decided to maintain the distribution at the same level as the last two quarters even though the Bloomberg Dividend Forecast now anticipates that dividends to be paid by certain of the banks included in the Bank Portfolio may increase slightly in 2010. The Board of Directors will continue to monitor the Bloomberg Dividend Forecast, the Company's current cash flow and changes in its expenses and may revise the amount of dividends paid on the Preferred Shares in the future.

Unitholders are reminded that the Preferred Shares, as a class, are entitled to receive, as and when paid in the discretion of the Board of Directors of the Company, cumulative dividends not exceeding $0.1125 per share per annum. The shortfall below the prescribed amount of the Preferred Share dividend (currently, $0.2575 in aggregate) will accumulate and, in accordance with the terms of the Preferred Shares and the Class A Shares, will be paid in priority to any payments on the Class A Shares.

This press release contains forward looking statements. Forward looking statements involve risks and uncertainties and are predictive in nature and actual results could differ materially from those contemplated by the forward looking statements.

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