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    DFN   CA25537R1091

DIVIDEND 15 SPLIT CORP.

(DFN)
  Report
Delayed Toronto Stock Exchange  -  12:49 2022-10-06 pm EDT
7.080 CAD   -0.98%
09/20Dividend 15 Split Raises $61.8 Million in Overnight Offering
MT
09/20Dividend 15 Split Corp Completes Overnight Offering of $61,769,000
GL
09/20Dividend 15 Split Corp. Monthly Dividend Declaration for Class A & Preferred Share
GL
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Dividend 15 Split Corp. At-The-Market Equity Program Renewed

08/09/2022 | 09:03am EDT

TORONTO, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Dividend 15 Split Corp. (the “Company”) announces it has renewed its at-the-market equity program (“ATM Program”) that allows the Company to issue shares of the Company to the public from time to time at the Company’s discretion, effective until September 9, 2024, unless terminated prior to such date by the Company. This ATM Program replaces the prior program established in January 2022 that has terminated. Any Class A Shares or Preferred Shares sold in the ATM Program will be sold through the Toronto Stock Exchange (the “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 August 8, 2022 with National Bank Financial Inc. (the “Agent”).

Sales of Class A Shares and Preferred Shares will be made by way of “at-the-market distributions” as defined in National Instrument 44-102 Shelf Distributions on the TSX or on any marketplace for the Class A Shares and Preferred Shares in Canada. Since the Class A Shares and Preferred Shares will be distributed at the prevailing market prices at the time of the sale, prices may vary among purchasers during the period of distribution. The ATM Program is being offered pursuant to a prospectus supplement dated August 8, 2022 to the Company’s short form base shelf prospectus dated August 8, 2022. The maximum gross proceeds from the issuance of the shares will be $400,000,000. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the Agent and are available on SEDAR at www.sedar.com.

The volume and timing of distributions under the ATM Program, if any, will be determined at the Company’s sole discretion. The Company intends to use the proceeds from the ATM Program in accordance with the investment objectives and investment strategies of the Company, subject to the investment restrictions of the Company.

The Company invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Toronto-Dominion Bank, National Bank of Canada, CI Financial Corp., BCE Inc., Manulife Financial Corporation, Enbridge Inc., Sun Life Financial Inc., TELUS Corporation, Thomson Reuters Corporation, TransAlta Corporation, TC Energy Corporation.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the Company’s publicly filed documents which are available at www.sedar.com.

    
Investor Relations: 1-877-478-2372Local: 416-304-4443www.dividend15.cominfo@quadravest.com


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09/20Dividend 15 Split Raises $61.8 Million in Overnight Offering
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09/20Dividend 15 Split Corp Completes Overnight Offering of $61,769,000
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Analyst Recommendations on DIVIDEND 15 SPLIT CORP.
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Financials
Sales 2021 247 M 181 M 181 M
Net income 2021 184 M 135 M 135 M
Net cash 2021 673 M 492 M 492 M
P/E ratio 2021 3,23x
Yield 2021 15,1%
Capitalization 734 M 537 M 537 M
EV / Sales 2020 -0,87x
EV / Sales 2021 0,13x
Nbr of Employees -
Free-Float 45,2%
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Managers and Directors
Stephen Wayne Finch Chairman, President & Chief Executive Officer
Silvia Gomes Chief Financial Officer
William C. Thornhill Independent Director
John D. Steep Independent Director
Peter Frederick Cruickshank Director
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