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Dividend 15 Split Corp. II is an investment corporation designed to pay monthly cash dividends. The corporation invests primarily in a portfolio of 15 dividend yielding, high quality Canadian companies. Two types of shares are available, a Class A and a Preferred.

Portfolio Core Holdings:    
     
Bank of Montreal National Bank of Canada Sun Life Financial
Bank of Nova Scotia CI Financial Corp. TELUS Corporation
CIBC BCE Inc. Thomson Reuters Corporation
Royal Bank Manulife Financial TransAlta Corporation
Toronto-Dominion Bank Enbridge Inc. TransCanada Corp

Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time.


Objectives

Preferred Shares:
(i) to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04375 per Preferred Share to yield 5.25% per annum on the original issue price; and
(ii) on or about December 1, 2019 (termination date), to pay the holders of the Preferred Shares the original issue price of those shares.

Class A Shares:
(i) to provide holders of the Class A Shares with regular monthly cash dividends initially targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price; and
(ii) on or about December 1, 2019 (termination date), to pay the holders of Class A Shares at least the original issue price of those shares.

 

Preferred Share Highlights Class A Share Highlights
Fixed cumulative monthly dividends (5.25% or $0.525 per share annually)

Quality investments and diversification

Strong downside protection and asset coverage

Pfd-3 (low) DBRS Rating - Jan 2014

Competitive Yield

 

Monthly cash dividends (8.0% or $1.20 per share annually)

Quality investments and diversification

Leverage to performance of high quality stocks

Capital appreciation potential

Attractive alternative to other income vehicles

 


 
     
     
     
 
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