Dividend 15 Split Corp.: Announces Successful Overnight Offering
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 09/25/13 -- Dividend 15 Split Corp. (the "Company") is pleased to announce that it has completed the overnight marketing of up to 1,866,380 Preferred Shares and up to 1,866,380 Class A Shares. Total proceeds of the offering are expected to be approximately $38 million(1). Due to strong demand the Company increased the size of the offering from its original target. The offering was co-led by National Bank Financial, CIBC World Markets and RBC Capital Markets and also included BMO Nesbitt Burns Inc. and TD Securities Inc. The sales period of this overnight offering has now ended.
The Class A shares will be offered at a price of $10.75 per share to yield 11.16% and the Preferred Shares will be offered at a price of $10.00 per share to yield 5.25%. The closing price of the Class A Shares on September 24, 2013 on the TSX was $11.40 and the closing price of the Preferred Shares on September 24, 2013 on the TSX was $10.20. Since the Company commenced on March 16, 2004, it has exceeded its distribution objectives. The aggregate dividends paid on Class A shares have been $14.80 per share, representing 113 regular consecutive monthly distributions, plus six special distributions. The Preferred Shares have received a total of $4.96 per share for a combined total distribution of $19.76 per unit paid by the Company. All distributions have been made in tax advantage eligible Canadian dividends or capital gains dividends.
The proceeds of the secondary offering, net of expenses and the Agents' fee, will be used by the Company to invest in an actively managed portfolio of dividend-yielding common shares which includes each of the 15 Canadian companies listed below. These are currently among the highest dividend-yielding securities in the S&P/TSX 60 Index:
The Company's investment objectives are:
Preferred Shares:
Class A Shares:
The Company will today file an amended and restated short form preliminary prospectus in each of the provinces of Canada with respect to the offering. The offering is only made by prospectus. The prospectus contains detailed information about securities being offered. A copy of the amended and restated preliminary short form prospectus is available from one of the agents listed above. Investors should read the prospectus before making an investment decision.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
(1) Offering includes public transaction and private placement.
Contacts:
Dividend 15 Split Corp.
Investor Relations
416-304-4443
1-877-478-2372
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Unternehmensinformation / Kurzprofil:
Datum: 25.09.2013 - 14:45 Uhr
Sprache: Deutsch
News-ID 300180
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Personal Finance
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