New Commerce Split

New Commerce Split

December 17, 2014 16:00 ET

New Commerce Split: Monthly Dividend Declared for Class I and Class II Preferred Shares

TORONTO, ONTARIO--(Marketwired - Dec. 17, 2014) - New Commerce Split (the "Company") (TSX:YCM.PR.A)(TSX:YCM.PR.B) declares its monthly distribution of $0.025 per share ($0.30 annually) for Class I Preferred shareholders (YCM.PR.A) and $0.03125 per share ($0.375 annually) for Class II Preferred shareholders (YCM.PR.B). As approved at a special meeting held on May 14, 2014, the Class I Preferred share dividend rate will now be paid at an annual rate of 6.00% based on the $5 repayment amount effective with the December 2014 monthly dividend. Class II Preferred share dividends will continue to be paid at an annual rate of 7.50% based on their $5 repayment amount. Distributions are payable January 9, 2015 to shareholders on record as of December 31, 2014.

The Company invests in common shares of Canadian Imperial Bank of Commerce, a Canadian financial institution.

Distribution Details:
Class I Preferred Share (YCM.PR.A) $0.025
Class II Preferred Share (YCM.PR.B) $0.03125
Ex-Dividend Date: December 29, 2014
Record Date: December 31, 2014
Payable Date: January 9, 2015

Contact Information

  • New Commerce Split
    Investor Relations
    416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372)