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

Strategic Insights

— 2 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 the company to the public from time to time at the company's discretion. This program replaces the prior one established in May 2023 and is effective until July 19, 2027, unless terminated prior to such date by the company.

The renewed ATM program enables the company to issue Class A Shares and Preferred Shares through the Toronto Stock Exchange (TSX) or any other marketplace in Canada on which the Class A Shares and Preferred Shares are listed, quoted, or otherwise traded at the prevailing market price at the time of sale. Sales of Class A Shares and Preferred Shares through the ATM program will be made pursuant to the terms of an equity distribution agreement dated June 19, 2025, with National Bank Financial Inc. as the Agent.

Key Takeaways:

  • The renewed ATM program replaces the prior one established in May 2023 and is effective until July 19, 2027.
  • The program allows Dividend 15 Split Corp. II to issue up to $350 million in gross proceeds through the sale of Class A Shares and Preferred Shares through the Toronto Stock Exchange (TSX) or any other marketplace in Canada.
  • The company intends to use the proceeds from the ATM program in accordance with the investment objectives and investment strategies of the Company, which involves investing primarily in a high-quality portfolio of leading Canadian dividend-yielding stocks.
  • The company invests in a diversified portfolio of 14 high-quality Canadian dividend-yielding stocks, including Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, and others.
  • The company has entered into an equity distribution agreement with National Bank Financial Inc. (the "Agent") for the sale of Class A Shares and Preferred Shares through the ATM Program.
  • The company's investment strategies and objectives align with the renewal of the ATM program, which enables the company to issue shares to the public from time to time at the company's discretion.

Statistics:

  • Gross proceeds from the issuance of shares under the renewed ATM program will not exceed $350,000,000.
  • The company invests primarily in a high-quality portfolio of 14 leading Canadian dividend-yielding stocks.
  • The company has entered into an equity distribution agreement with National Bank Financial Inc. (the Agent).
  • The ATM program will be determined by the company's sole discretion, and there is no guarantee of future performance or the volume of distributions.

Sources:

  • GLOBE NEWSWIRE, "Dividend 15 Split Corp. II Announces Renewal of its At-The-Market Equity Program" (June 20, 2025)
  • Dividend 15 Split Corp. II, Prospectus Supplement dated June 19, 2025, and Short Form Base Shelf Prospectus dated June 18, 2025.

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