US Financial 15 Split Corp.

US Financial 15 Split Corp.

September 18, 2008 09:00 ET

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

TORONTO, ONTARIO--(Marketwire - Sept. 18, 2008) - US Financial 15 Split Corp. ("US Financial 15") declares its regular monthly distribution of $0.04375 for each Preferred share ($0.525 annually). Distributions are payable October 10, 2008 to shareholders on record as at September 30, 2008. There will not be a distribution paid to US Financial 15 Class A Shares for September 30, 2008 as per the Prospectus which states no regular monthly dividends or other distributions 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. The Net Asset Value as of September 15, 2008 was $10.33 therefore no distribution will be paid to the Class A shareholders.

Since inception Class A shareholders have received a total of $3.70 per share and Preferred shareholders have received a total of $1.90 per share inclusive of this distribution, for a combined total of $5.60.

US Financial 15 invests in a high quality portfolio consisting of 15 U.S. financial services companies as follows: American Express, American International Group, Bank of America, Citigroup, Fifth Third Bancorp, The Goldman Sachs Group, J.P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, SunTrust Banks, U.S. Bancorp, Wachovia Corporation, Washington Mutual and Wells Fargo. Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time.

Distribution Details:

Preferred Share (FTU.PR.A) $0.04375

Ex-Dividend Date: September 26, 2008

Record Date: September 30, 2008

Payable Date: October 10, 2008

Contact Information

  • US Financial 15 Split Corp.
    Investor Relations
    (416) 304-4443, Toll Free at 1-877-4-Quadra (1-877-478-2372)