Dividend 15 Split Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Dividend 15 Split Corp Completes Secondary Overnight Offering Of $38,400,000
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.
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