Dividend 15 Split Corp. Completes Overnight Offering of $82,218,750

TORONTO, April 30, 2021 (GLOBE NEWSWIRE) — Dividend 15 Split Corp. (the “Company”) is pleased to announce it has completed the overnight offering of Preferred Shares and Class A Shares of the Company. Total gross proceeds of the offering were $82.2 million, bringing the Company’s net assets to approximately $1.2 billion.

The shares will begin trading on the Toronto Stock Exchange under the existing symbols of DFN.PR.A (Preferred Shares) and DFN (Class A Shares).

The Preferred Shares were offered at a price of $10.10 per Preferred Share to yield 5.4% and the Class A Shares were offered at a price of $8.15 per Class A Share to yield 14.7%.

The offering was led by National Bank Financial Inc.

The net proceeds of the offering will be used by the Company to invest in an actively managed, high quality portfolio consisting of 15 dividend yielding Canadian companies as follows:

  Bank of Montreal Enbridge Inc.  TC Energy
  The Bank of Nova Scotia Manulife Financial Corp.  TELUS Corporation
  BCE Inc.  National Bank of Canada Thomson Reuters Corp. 
  Canadian Imperial Bank of Commerce  Royal Bank of Canada The Toronto-Dominion Bank
  CI Financial Corp.  Sun Life Financial Inc. TransAlta Corporation

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus supplement to the Company’s short form base shelf prospectus dated July 3, 2020 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.

For further information, please contact Dividend 15 Split Corp. Investor Relations at
416-304-4443 Toll free at 1-877-4-Quadra (1-877-478-2372) or visit www.dividend15.com

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