NB Split Corp.

NB Split Corp.

May 20, 2009 08:00 ET

NB Split Corp. Declares Quarterly Dividends

TORONTO, ONTARIO--(Marketwire - May 20, 2009) - NB Split Corp. (the "Company") (TSX:NBF)(TSX:NBF.PR.A) announces a dividend of $0.3886 per Preferred Share and $0.0339 per Capital Share for the quarter ending May 31, 2009. In each case, the dividend will be paid on or before June 12, 2009 to holders of record on May 29, 2009.

In deciding to reinstate the dividend on the Capital Shares this quarter, the Board of Directors considered, among other things, the improved performance of the Company's portfolio since the last quarter, the rights attaching to the Preferred Shares, including the priority of the Preferred Shares for the payment of cumulative dividends and return of capital prior to the rights of the Capital Shares, estimated expense levels and the anticipated distributions receivable on the Company's portfolio. A consideration of these factors, among other matters, resulted in the determination of the Board to suspend Capital Share dividends in the prior quarter and the reinstatement of these dividends in the current quarter.

The Board of Directors will continue to monitor these factors, among others, when deciding on the declaration and payment of dividends in the future and these factors may cause the board to reduce, suspend or increase dividends on the Capital Shares in future periods.

Contact Information

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