The Board of Directors of BNS Split Corp. (the “Company”) has declared today dividends of $0.3162 per Preferred Share and $0.2275 per Capital Share, payable on August 2, 2007 to holders of record at the close of business on July 30, 2007.
Holders of Preferred Shares are entitled to receive quarterly fixed cumulative distributions equal to $0.3162 per Preferred Share.
The Capital Shares and Preferred Shares will be redeemed by the Company on August 2, 2007 (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 $23.00 and the Net Asset Value per Unit. The Capital Shares will be redeemed at a price for every two shares equal to the amount by which the Net Asset Value per Unit exceeds $23.00.
HIMIPref™ data for the final dividend has been adjusted.
Update 2007-07-31: It should come as no surprise to learn that the redemption price on the prefs is $23.00.