US Financial 15 Split Corp. Declares Regular Monthly Distribution

US Financial 15 Split Corp. has declared a regular monthly distribution of $0.04375 for each Preferred share, totaling $0.525 annually. The dividend is payable on May 10, 2011, to Preferred shareholders on record as at April 29, 2011. The company invests in a high-quality portfolio of 15 U.S. financial services companies, including American Express, Bank of America, and Wells Fargo. A covered call writing program is used to supplement dividend income.

Key Takeaways:

US Financial 15 Split Corp. has declared a regular monthly distribution of $0.04375 for each Preferred share.
The dividend is payable on May 10, 2011, to Preferred shareholders on record as at April 29, 2011.
The company invests in a high-quality portfolio of 15 U.S. financial services companies.
The portfolio includes American Express, Bank of America, and Wells Fargo, which are expected to hold between 4-8% weight in the portfolio.
A covered call writing program is used to supplement dividend income.
The company uses Comtex SmarTrend Alert, an automated pattern recognition system, which indicated an uptrend on American Express on March 23, 2011, and a downtrend on Morgan Stanley on March 4, 2011.

Statistics:

Regular monthly distribution: $0.04375 per Preferred share.
Total annual dividend: $0.525 per Preferred share.
Number of companies in the high-quality portfolio: 15.
Companies in the portfolio: American Express, Bank of America, Bank of New York Mellon Corp., Citigroup, CME Group Inc., Fifth Third Bancorp, The Goldman Sachs Group, J.P. Morgan Chase & Co., Morgan Stanley, PNC Financial Services group Inc., Regions Financial Corp., State Street Corp., SunTrust Banks, U.S. Bancorp, and Wells Fargo.
Weight of portfolio companies: between 4-8%.
Date of dividend payment: May 10, 2011.
Record date for dividend: April 29, 2011.

Sources:

Comtex SmarTrend Alert, an automated pattern recognition system, via mysmartrend.com.