New Commerce Split Corp T.YCM

Alternate Symbol(s): T.YCM.P.A | T.YCM.P.B

The Companys investment objectives with respect to the Class A Shares are (a) to provide holders of Class A Shares with regular monthly cash dividends targeted to be $0.05 per Class A Share to yield 6.0% per annum on the original issue price and (b) on or about the Termination Date, to pay the holders of Class A Shares at least the original issue price of the Class A Shares. In order to achieve its objectives, the Company will invest the net proceeds of the Offering in common shares of the Bank. To supplement the dividends or other distributions received on the common shares of the Bank held by the Company and to reduce risk, the Company may from time to time write covered call options in respect of some or all of such common shares. The number of common shares of the Bank that are the subject of call options and the terms of such options will vary from time to time as determined by Quadravest Capital Management Inc. (``Quadravest), the Companys investment manager.

TSX:YCM - Post by User

New Commerce Split Corp

Bullboard Posts

Next >>

Post by bveilleuon Jun 18, 2021 9:41am

136 Views

Post# 33410508

Capital Share Reinstates Distributions and Monthly Payments

TORONTO, June 18, 2021 (GLOBE NEWSWIRE) -- New Commerce Split (The "Company") declares a monthly distribution of $0.05000 per share for Capital shareholders (YCM), and its regular monthly distribution of $0.02500 per share ($0.30 annually) for Class I Preferred shareholders (YCM.PR.A), and $0.03125 per share ($0.375 annually) for Class II Preferred shareholders (YCM.PR.B). The Class I Preferreds are paid at an annual rate of 6.00% based on their $5 repayment amount. Class II Preferreds are paid at an annual rate of 7.50% based on their $5 repayment amount. Distributions are payable July 9, 2021 to shareholders on record as at June 30, 2021.

The Company invests in common shares of Canadian Imperial Bank of Commerce, a Canadian financial institution.

Distribution Details

Capital Share (YCM)	$0.05000
Class I Preferred Share (YCM.PR.A)	$0.02500
Class II Preferred Share (YCM.PR.B)	$0.03125
Ex-Dividend Date:	June 29, 2021
Record Date:	June 30, 2021
Payable Date:	July 9, 2021