NB Split Corp.
TSX : NBF
TSX : NBF.PR.A

NB Split Corp.

February 01, 2012 08:30 ET

NB Split Corp. Announces Final Dividend On Preferred Shares and De-Listing Date

TORONTO, ONTARIO--(Marketwire - Feb. 1, 2012) - NB Split Corp. (the "Company") (TSX:NBF)(TSX:NBF.PR.A) announces that a final dividend of $0.3288 per Preferred Share will be paid to holders of record on February 15, 2012. The dividend will be paid on or about February 21, 2012. No dividend will be paid on the Capital Shares for this period.

Shareholders are reminded that all of the Capital Shares and the Preferred Shares will be redeemed by the Company on February 15, 2012 (the "Redemption Date") in accordance with the redemption provisions of the shares. Pursuant to these provisions, the Preferred Shares will be redeemed at a price per share equal to the lesser of $32.72 and the Unit Value as at the Redemption Date. The Capital Shares will be redeemed at a price for every two Capital Shares equal to the amount, if any, by which the Unit Value exceeds $32.72 as at the Redemption Date. If the Unit Value for the redemptions is less than or equal to $32.72, the Capital Shares will have no value on redemption. The redemption will be funded out of the net proceeds of disposition of the portfolio. A further press release will be issued by the Company in connection with the redemption prices on February 16, 2012. All redemption payments are expected to be made on or about February 21, 2012.

The Capital Shares and the Preferred Shares will be delisted from the Toronto Stock Exchange ("TSX") on February 15, 2012.

Contact Information

  • First Asset (the Company's Administrator)
    Rob MacNiven
    Investor Relations
    416-642-1289 or 1-877-642-1289
    www.nbsplit.com