Dividend Select 15 Corp. Announces Overnight Offering
March 06 2018 - 2:14PM
Dividend Select 15 Corp. (the “Company”) is pleased to announce it
has filed a preliminary short form prospectus in each of the
provinces of Canada with respect to an offering of Equity Shares of
the Company. The offering will be co-led by National Bank
Financial Inc., CIBC World Markets Inc., Scotia Capital Inc. and
RBC Capital Markets, and will also include TD Securities Inc., BMO
Capital Markets, Canaccord Genuity Corp., Echelon Wealth Partners,
Industrial Alliance Securities Inc., GMP Securities L.P., Raymond
James Ltd., Desjardins Securities Inc., Mackie Research Capital
Corporation, and Manulife Securities Incorporated.
The Equity Shares will be offered at a price of
$8.55 per Share to yield 10%. The closing price on the TSX of
the Equity Shares on March 5, 2018 was $8.70.
Since inception of the Company on November 18,
2010, the aggregate dividends declared on the Equity Shares have
been $5.75 per share. All distributions to date have been
made in tax advantage eligible Canadian dividends or capital gains
dividends.
The net proceeds of the secondary offering will
be used by the Company to invest in an actively managed portfolio
of 15 Canadian companies selected from the following 20 company
universe which are among the highest Canadian dividend yielding
stocks.
Bank
of Montreal |
Great-West Lifeco Inc. |
TELUS
Corporation |
BCE
Inc. |
Husky
Energy Inc. |
The
Bank of Nova Scotia |
CIBC |
National Bank of Canada |
The
Toronto-Dominion Bank |
CI
Financial Corp. |
Power
Corporation of Canada |
Thomson Reuters Corporation |
Enbridge Inc. |
Royal
Bank of Canada |
TMX
Group Inc. |
EnCana Corporation |
Loblaw Companies Limited |
TransAlta Corporation |
|
Sun
Life Financial Inc. |
TransCanada Corporation |
The Company’s investment objectives are:
To provide Equity Shares of the Company with (i) monthly cash
distributions currently at a 10% annualized rate based on the
volume weighted average market price of the Equity Shares over the
last three trading days of the preceding month, plus (ii) the
opportunity for capital appreciation.
The sales period of this overnight offering will
end at 9:00 a.m. EST on March 7, 2018. The offering is
expected to close on or about March 21, 2018 and is subject to
certain closing conditions including approval by the TSX.
A preliminary short form prospectus containing
important information relating to the Equity Shares has been filed
with securities commissions or similar authorities in all provinces
of Canada. The preliminary short form prospectus is still
subject to completion or amendment. Copies of the preliminary
short form prospectus may be obtained from your registered
financial advisor using the contact information for such advisor,
or from representatives of the underwriters listed above.
There will not be any sale or any acceptance of an offer to buy the
Equity Shares until a receipt for the final short form prospectus
has been issued.
For further information, please contact Investor
Relations at:
1-877-478-2372 Local:
416-304-4443
www.dividendselect15.com
info@quadravest.com
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