Dividend 15 Split Corp. Announces Successful Overnight Offering

Dividend 15 Split Corp. (the "Company") is pleased to announce that it has
completed the overnight marketing of up to 2,500,000 Class A Shares and up to
2,500,000 Preferred Shares. Total proceeds of the offering are expected to be
approximately $55 million. The Company has granted the dealers an overallotment
of 375,000 units if exercised, bringing the total proceeds to $63.3 million.


The offering is being co-led by National Bank Financial Inc., CIBC and RBC
Capital Markets and also includes BMO Capital Markets, TD Securities Inc., GMP
Securities L.P. and Canaccord Genuity Corp.


The sales period of the overnight offering has now ended.

The Class A Shares will be offered at a price of $12.00 per Class A Share to
yield 10.0% on the issue price and the Preferred Shares will be offered at a
price of $10.00 per Preferred Share to yield 5.25% on the issue price. The
closing price on the TSX of each of the Class A Shares and the Preferred Shares
on May 12, 2014 was $12.34 and $10.27, respectively.


The net proceeds of the secondary offering 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:




Bank of Montreal          Enbridge Inc.             TELUS Corporation       
The Bank of Nova Scotia   Manulife Financial Corp.  Thomson-Reuters         
BCE Inc.                  National Bank of Canada    Corporation            
Canadian Imperial Bank    Royal Bank of Canada      The Toronto-Dominion    
 of Commerce              Sun Life Financial Inc.    Bank                   
CI Financial Corp.                                  TransAlta Corporation   
                                                    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 preliminary short form
prospectus, containing important information relating to the Class A Shares and
the Preferred Shares, with securities commissions or similar authorities in all
provinces of Canada. The amended and restated preliminary short form prospectus
is still subject to completion or amendment. Copies of the amended and restated
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. Investors should read the prospectus before
making an investment decision. There will not be any sale or any acceptance of
an offer to buy the securities until a receipt for the final prospectus has been
issued.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Dividend 15 Split Corp.
Investor Relations
416-304-4443
Toll Free: 1-877-4-Quadra (1-877-478-2372)
www.dividend15.com

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