Sixty Split Corp. has announced:
The Board of Directors of Sixty Split Corp. has declared today an ordinary dividend of $0.3563 per Preferred Share payable on March 15, 2011 to holders of record at the close of business on March 14, 2011.
Holders of Preferred Shares are entitled to receive quarterly fixed cumulative distributions equal to $0.3563 per Preferred Share.
The Capital Shares and Preferred Shares will be redeemed by the Company on March 15, 2011 (the “Redemption Date”) in accordance with the redemption provisions of the shares. Pursuant to these provisions, the Preferred Shares will be redeemed at a price per share equal to the lesser of $25.00 and the net asset value per Unit. The Capital Shares will be redeemed at a price per two Capital Shares equal to the amount by which the net asset value per unit exceeds $25.00. The net asset value per unit was $68.86 as at March 1, 2011.
Holders of Capital Shares who requested to receive their redemption payment in portfolio securities and gave notice to this effect and tendered $25.00 for every two Capital Shares by February 14, 2011 will receive their pro rata share of the portfolio securities. The redemption of Capital Shares and Preferred Shares will constitute a taxable disposition of the Company’s shares at the time of the redemption whether the payment is received in the form of cash or portfolio securities.
A further press release will be issued by the Company in connection with the redemption prices on March 14, 2011. Payment of the amounts due to holders of Capital Shares and Preferred Shares will be made by the Company on March 15, 2011.
Sixty Split Corp. is a mutual fund corporation created to hold a portfolio of common shares and income funds of the companies and trusts that make up the S&P/TSX 60 Index. Capital Shares and Preferred Shares of Sixty Split Corp. are listed for trading on The Toronto Stock Exchange under the symbols SXT and SXT.PR.A respectively.
Update, 2011-3-14:Final redemption prices
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