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Provider: Reuters Investment Profile

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Dividend 15 Split Corp Completes Secondary Overnight Offering Of $38,400,000

Wednesday, 9 Oct 2013 09:33am EDT 

Dividend 15 Split Corp announced that it has completed the overnight offering of 1,866,380 Preferred Shares and 1,866,380 Class A Shares. Total gross proceeds of the offering were $38.4 million, bringing the Company's net assets to approx. $357 million. Shares will continue to trade on the Toronto Stock Exchange under the existing symbol DFN (Class A shares) and DFN.PR.A (Preferred Shares). The Class A shares were offered at a price of $10.75 per share to yield 11.16% and the Preferred Shares were offered at a price of $10.00 per share to yield 5.25% based on the current distribution policy. The proceeds of the secondary overnight offering, net of expenses and the Agents' fee, will be used by the Company to invest in an actively managed portfolio of dividend-yielding common shares. 

Company Quote

-0.04 -0.33%
3:58pm EDT