TORONTO, ONTARIO--(Marketwire - Aug. 20, 2012) - Financial 15 Split Corp. ("Financial 15") declares its regular monthly distribution of $0.04375 for each Preferred share ($0.525 annually). Distributions are payable September 10, 2012 to shareholders on record as of August 31, 2012. There will not be a distribution paid to Financial 15 Class A Shares for August 31, 2012 as per the Prospectus which states no regular monthly dividends or other 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 net asset value as of August 15, 2012 was $13.71.
Since inception Class A shareholders have received a total of $9.85 per share (including two special distributions totaling $0.50 per share) and Preferred shareholders have received a total of $4.61 per share inclusive of this distribution, for a combined total of $14.46.
Financial 15 invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Income Fund, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co. Shares held within the portfolio are expected to range between 4-8% in weight but may vary at any time.
|Preferred Share (FTN.PR.A)
||August 29, 2012
||August 31, 2012
||September 10, 2012