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Dividend 15 Split Corp. Announces Overnight Offering of Preferred Shares
Globenewswire· 2026-01-15 20:20
Core Viewpoint - Dividend 15 Split Corp. is launching an offering of Preferred Shares to invest in a high-quality portfolio of dividend-yielding Canadian companies [1][3]. Group 1: Offering Details - The sales period for the Preferred Shares offering will end at 8:30 a.m. EST on January 16, 2026, with an expected closing date around January 23, 2026, pending TSX approval [2]. - The Preferred Shares will be priced at $10.45 each, while the closing price on January 14, 2026, was $10.52 [2]. Group 2: Dividend Information - Since its inception, the Company has paid a total of $11.75 per share in dividends on the Preferred Shares, all of which are tax-advantaged eligible Canadian dividends [3]. - The investment objectives for the Preferred Shares include providing fixed, cumulative preferential monthly cash dividends at an annual rate of 7.00% based on the original $10 issue price [4]. Group 3: Investment Portfolio - The proceeds from the offering will be used to invest in a portfolio of notable Canadian companies, including Bank of Montreal, Enbridge Inc., TC Energy, and others [3].