Dividend Select 15 Corp. Announces Overnight Offering
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 02/23/15 -- Dividend Select 15 Corp. (the "Company") (TSX: DS) is pleased to announce it has filed a preliminary short form prospectus in each of the provinces of Canada with respect to an offering of Equity Shares of the Company. The offering will be co-led by National Bank Financial Inc., CIBC, RBC Capital Markets and will also include Scotia Capital Inc., TD Securities Inc., BMO Capital Markets, GMP Securities L.P., Canaccord Genuity Corp. and Raymond James.
The Equity Shares will be offered at a price of $10.35 per Share to yield 10%. The closing price on the TSX of the Equity Shares on February 20, 2015 was $10.85.
Since inception of the Company on November 18, 2010, the aggregate dividends paid on the Equity Shares have been $3.13 per share (inclusive of the February 27, 2015 distribution payable on March 10, 2015). All distributions to date have been made in tax advantage eligible Canadian dividends or capital gains dividends.
The net proceeds of the secondary offering will be used by the Company to invest in an actively managed portfolio of 15 Canadian companies selected from the following 20 company universe which are among the highest Canadian dividend yielding stocks.
The Company's investment objectives are:
To provide Equity Shares of the Company with (i) monthly cash distributions currently at a 10% annualized rate based on the volume weighted average market price of the Equity Shares over the last three trading days of the preceding month, plus (ii) the opportunity for capital appreciation.
The sales period of this overnight offering will end at 9:00 a.m. EST on February 24, 2015.
A preliminary short form prospectus containing important information relating to the Preferred Shares and the Class A Shares has been filed with securities commissions or similar authorities in all provinces of Canada. The preliminary short form prospectus is still subject to completion or amendment. Copies of the preliminary short form prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the underwriters listed above. There will not be any sale or any acceptance of an offer to buy the Preferred Shares or the Class A Shares until a receipt for the final short form prospectus has been issued.
Contacts:
Dividend Select 15 Corp.
Investor Relations
416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)
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Datum: 23.02.2015 - 20:04 Uhr
Sprache: Deutsch
News-ID 373496
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Personal Finance
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