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Dividend 15 Split Corp. II Renews At-The-Market Equity Program

Strategic Insights

— 1 min read

Dividend 15 Split Corp. II has announced the renewal of its at-the-market equity program, allowing the company to issue shares of Class A and Preferred Shares to the public from time to time at prevailing market prices. The ATM program, which replaces the prior program established in May 2023, will be effective until July 19, 2027, unless terminated by the company prior to that date. The program will enable the company to sell up to $350 million in shares, with the proceeds being used to invest in a high-quality portfolio of leading Canadian dividend-yielding stocks.

Key Takeaways:

  • The renewed ATM program will allow Dividend 15 Split Corp. II to issue shares of Class A and Preferred Shares to the public at prevailing market prices.
  • The program will be effective until July 19, 2027, unless terminated by the company prior to that date.
  • The maximum gross proceeds from the issuance of shares will be $350 million.
  • The proceeds from the ATM program will be used to invest in a high-quality portfolio of leading Canadian dividend-yielding stocks, including Bank of Montreal, The Bank of Nova Scotia, and Royal Bank of Canada.
  • Investments in these stocks are expected to provide stable income and long-term capital appreciation.
  • The company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or information.
  • Commissions, trailing commissions, management fees, and expenses may be associated with mutual fund investments.
  • Investors should read the prospectus before investing, as mutual funds are not guaranteed and their values change frequently.

Statistics:

  • Maximum gross proceeds from the issuance of shares: $350,000,000
  • Number of stocks in the company's portfolio: 16
  • Number of dividend-yielding stocks: 16
  • Highest dividend-yielding stock: Royal Bank of Canada
  • Lowest dividend-yielding stock: Sun Life Financial Inc. (4.53%)

Sources:

  • Dividend 15 Split Corp. II (TSX: DSB.PR.A)
  • SEDAR+ (www.sedarplus.com)

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