TORONTO, ONTARIO--(Marketwired - Sept. 24, 2014) - Dividend 15 Split Corp. II (the "Company") is pleased to announce it has completed an overnight offering of 2,350,000 Preferred Shares and 2,350,000 Class A Shares. Total proceeds of the offering were $44.0 million, bringing the Company's net assets to approximately $198.6 million. The shares will trade on the Toronto Stock Exchange under the existing symbols of DF.PR.A (Preferred shares) and DF (Class A shares).
The Preferred Shares were offered at a price of $10.00 per Preferred Share to yield 5.25% on the issue price and the Class A Shares were offered at a price of $8.75 per Class A Share to yield 13.71% on the issue price.
The offering was co-led by National Bank Financial Inc., CIBC, RBC Capital Markets and also included Scotia Capital Inc., TD Securities Inc., BMO Capital Markets, GMP Securities L.P., Canaccord Genuity Corp. and Raymond James.
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 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 |
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. Please read the Company's publically filed documents which are available at www.sedar.com.