Dividend 15 Split Corp.: Announces Successful Overnight Offering
2013年9月25日 - 11:45PM
Marketwired
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:
Bank of Montreal Enbridge Inc. TELUS Corporation
The Bank of Nova Scotia Manulife Financial Corp. Thomson-Reuters
Corporation
BCE Inc. National Bank of Canada The Toronto-Dominion Bank
Canadian Imperial Bank Royal Bank of Canada TransAlta Corporation
of Commerce
CI Financial Corp. Sun Life Financial Inc. TransCanada Corporation
The Company's investment objectives are:
Preferred Shares:
i. to provide holders of the Preferred Shares with fixed, cumulative
preferential monthly cash dividends in the amount of $0.04375 per
Preferred Share to yield 5.25% per annum on the original issue price;
and
ii. on or about December 1, 2019, to pay the holders of the Preferred Shares
the original issue price of those shares.
Class A Shares:
i. to provide holders of the Class A Shares with regular monthly cash
dividends initially targeted to be $0.10 per Class A; and
ii. on or about December 1, 2019, to pay the holders of Class A Shares at
least the original issue price of those 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 1-877-478-2372info@dividend15.com
www.dividend15.com
Dividend 15 Split (TSX:DFN.PR.A)
過去 株価チャート
から 5 2024 まで 6 2024
Dividend 15 Split (TSX:DFN.PR.A)
過去 株価チャート
から 6 2023 まで 6 2024