North American Financial 15 Split Corp

June 20, 2016 18:50 ET

North American Financial 15 Split Corp.: Regular Monthly Dividend Declaration for Preferred Share

TORONTO, ONTARIO--(Marketwired - June 20, 2016) - North American Financial 15 Split Corp. (the "Company") declares its regular monthly distribution of $0.04375 for each Preferred share ($0.525 annually). Distributions are payable July 8, 2016 to shareholders on record as at June 30, 2016.

There will not be a distribution paid to the Class A Shares for June 30, 2016 as per the Prospectus which states no regular monthly dividends will be paid on the Class A Shares in any month as long as the net asset value per unit is equal to or less than $15.00.

Since inception Class A shareholders have received a total of $9.75 per share (including one special distribution of $0.25 per share) and Preferred shareholders have received a total of $6.15 per share inclusive of this distribution, for a combined total of $15.90.

The Company 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, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Corp, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co.

Distribution Details:
Preferred Share (FFN.PR.A) $0.04375
Ex-Dividend Date: June 28, 2016
Record Date: June 30, 2016
Payable Date: July 8, 2016

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