TORONTO, July 20, Jul 20, 2020 (GLOBE NEWSWIRE via COMTEX) -- TORONTO, July 20, 2020 (GLOBE NEWSWIRE) -- Dividend 15 Split Corp. II ("Dividend 15 II") declares its regular monthly distribution of $0.04792 for each Preferred share. Distributions are payable August 10, 2020 to shareholders on record as at July 31, 2020.
Since the latter part of February 2020, financial markets have been extremely volatile in response to the developing COVID-19 pandemic and equity markets in particular have experienced significant declines. The investment portfolio of the Company has been subject to these market fluctuations and the net assets of the Company have been materially negatively impacted. The net asset value per unit of the Company as at July 15, 2020 was $12.68. No regular monthly distributions will be paid on the Class A Shares in any month as long as the net asset value per unit is equal to or less than $15.00. The Company's investment portfolio may continue to experience significant volatility as the situation evolves.
Since inception Class A shareholders have received a total of $13.30 per share and Preferred shareholders have received a total of $7.23 per share inclusive of this distribution, for a combined total of $20.53.
Dividend 15 II invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Corp., BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, TELUS Corporation, Thomson Reuters Corporation, TransAlta Corporation, TransCanada Corporation.
|Preferred Share (DF.PR.A)||$0.04792|
|Ex-Dividend Date:||July 30, 2020|
|Record Date:||July 31, 2020|
|Payable Date:||August 10, 2020|
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