TORONTO, ONTARIO--(Marketwired - Nov. 21, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Dividend Growth Split Corp. (TSX:DGS)(TSX:DGS.PR.A) (the "Company") is pleased to announce that the Company's treasury offering of class A and preferred shares has been priced at $9.55 per class A share and $10.10 per preferred share. The final class A and preferred share offering prices were determined so as to be non-dilutive to the net asset value per unit of the Company on November 20, 2014, as adjusted for dividends and certain expenses accrued prior to or upon settlement of the offering and after payment of certain offering costs by the Company's manager.
The Company invests in a portfolio of common shares of high quality, large capitalization companies, which have among the highest dividend growth rates of those companies included in the S&P/TSX Composite Index. Upon closing of the offering, the portfolio will consist of common shares of the following 20 companies:
| Great-West Lifeco Inc. |
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The Bank of Nova Scotia |
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CI Financial Corporation |
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Shaw Communications Inc. |
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| Industrial Alliance Insurance and Financial Services Inc. |
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Canadian Imperial Bank of Commerce |
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IGM Financial Inc. |
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TELUS Corporation |
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| Manulife Financial Corporation |
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National Bank of Canada |
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Power Corporation of Canada |
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Canadian Utilities Limited |
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| Sun Life Financial Inc. |
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Royal Bank of Canada |
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BCE Inc. |
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Enbridge Inc. |
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| Bank of Montreal |
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The Toronto-Dominion Bank |
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Rogers Communications Inc. |
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TransCanada Corporation |
The Company intends to file a final prospectus in each of the provinces and territories of Canada in connection with the offering. The offering is expected to close on or about December 2, 2014 and is subject to customary closing conditions including approvals of applicable securities regulatory authorities and the Toronto Stock Exchange.
The syndicate of agents for the offering is being led by RBC Capital Markets, CIBC, Scotiabank and TD Securities Inc. and includes BMO Capital Markets, National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Ltd., Industrial Alliance Securities Inc., Mackie Research Capital Corporation, and Manulife Securities Incorporated.
About Brompton Funds
Brompton Funds, a division of Brompton Group, is an experienced investment fund manager operating since 2002. Brompton is focused on meeting the needs of investors by offering low cost, innovative products with client friendly terms and supported by strong corporate governance. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000 / toll-free at 1-866-642-6001/ email info@bromptongroup.com or visit our website at www.bromptongroup.com.
A preliminary short form prospectus containing important detailed information about the securities being offered has been filed and is still subject to completion or amendment. Copies of the prospectus may be obtained from any of the above-mentioned agents. Investors should read the prospectus before making an investment decision. There will not be any sale of the securities being offered until a receipt for the final short form prospectus has been issued.
Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the Company, to the future outlook of the Company and anticipated events or results and may include statements regarding the future financial performance of the Company. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
You will usually pay brokerage fees to your dealer if you purchase or sell shares of the Company on the Toronto Stock Exchange or alternative Canadian trading platforms (an "exchange"). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the Company and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Company in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.