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OVERVIEW

CORE HOLDINGS

Dividend 15 Split Corp. II is an investment corporation designed to pay monthly cash dividends. The corporation invests primarily in a portfolio of 15 dividend yielding, high quality Canadian companies.

 

Two types of shares are available, a Class A (DF) and a Preferred (DF.PR.A).

 

 

To view a Split Share Fund overview please click here.

Bank of Montreal

Bank of Nova Scotia

BCE Inc.

CI Financial Corp.

CIBC

Enbridge Inc.

Manulife Financial

National Bank of Canada

Royal Bank

Sun Life Financial

TELUS Corporation

Thomson Reuters Corporation

Toronto-Dominion Bank

TransAlta Corporation

TC Energy Corporation

 

Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time. Top holdings by weight may include holdings other than the core holdings as up to 15% of the net asset value may be invested in equity securities other than the core holdings (as per the Prospectus).

 

 

OBJECTIVES

SHARE HIGHLIGHTS

Preferred Shares:

 

(i) to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04792 per Preferred Share to yield 5.75% per annum on the original issue price; and
(ii) on or about the termination date of December 1, 2024 (subject to further 5 year extensions thereafter), to pay the holders of the Preferred Shares the original issue price of those shares.

 

Class A Shares:

 

(i) to provide holders of the Class A Shares with regular monthly cash dividends initially targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price; and
(ii) on or about December 1, 2024, to pay the holders of Class A Shares at least the original issue price of those shares.

​Preferred Shares:

 

  • Fixed cumulative monthly dividends*

  • Quality investments and diversification

  • Strong downside protection and asset coverage

  • Pfd-3 (low) DBRS Rating - June 29/23

  • Competitive Yield

 

Class A Shares:

 

  • Monthly cash dividends*

  • Quality investments and diversification

  • Leverage to performance of high quality stocks

  • Capital appreciation potential

  • Attractive alternative to other income vehicles

    *For the purposes of the Income Tax Act (Canada) and any similar provincial legislation, the Company designates any and all dividends paid on both its Class A and Preferred shares as “eligible dividends” unless the Company indicates otherwise.

TOP HOLDINGS

VALUATION

Holdings Sorted by weight as at August 31, 2023

 

Manulife Financial Corp
Royal Bank of Canada
TC Energy Corp
Sun Life Financial Inc
BCE Inc
National Bank of Canada
Canadian Imperial Bank of Commerce
Bank of Montreal
Toronto-Dominion Bank
Enbridge Inc
Thomson Reuters Corp
Suncor Energy Inc
Bank of Nova Scotia
Telus Corp
TransAlta Corp

September 15, 2023    
NAV Pre-Distribution:      $14.03
Distribution:      $0.00
NAV Net of Distribution:      $14.03
NAV + Total Distributions Paid to Date:      $37.73

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