Business & Finance
Business and Finance
Business and Finance
Tue, May 15, 2012 
May 15, 2012 09:00 ET
Dividend 15 Split Corp.-Rights Offering Completed
TORONTO, ONTARIO--(Marketwire - May 15, 2012) - Dividend 15 Split Corp. (the "Company") is pleased to announce that it has completed the offering of rights pursuant to the rights offering circular dated March 12, 2012 (the "Offering"). The Company issued 346,239 Units (each Unit consisting of one Class A Share and one Preferred Share of the Company) and received aggregate gross proceeds of $7.3 million, bringing the companies net assets to approx. $305 million. Shares will trade on the Toronto Stock Exchange under the symbols DFN (Class A Shares) and DFN.PR.A (Preferred Shares).
The net proceeds from the offering of the Company 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 Corporation | The Thomson Corporation | ||
| BCE Inc. | National Bank of Canada | The Toronto-Dominion Bank | ||
| Canadian Imperial Bank of Commerce | Royal Bank of Canada | TransAlta Corporation | ||
| CI Financial Corp. | Sun Life Financial Inc. | TransCanada Corporation |
Since inception Class A shareholders have received a total of $13.20 per share (including five special distributions of $0.25 per share, one special distribution of $0.50 per share and one special stock dividend of $1.75 per share) and Preferred shareholders have received a total of $4.26 per share inclusive of this distribution, for a combined total of $17.46 per Unit.
