Quadravest has announced:
Dividend 15 Split Corp. II (the “Company”) invests
in a high-quality portfolio consisting of 15 leading Canadian dividend-yielding stocks. The top five holdings currently held in the portfolio are as follows: Manulife Financial Corp., Canadian Imperial Bank of Commerce, Royal Bank of Canada, National Bank of Canada and Sun Life Financial Inc.
The recent extension of the Company’s termination date included a retraction right for Class A shareholders and Preferred shareholders. The Company will not require a rebalance of shares and all retraction rights have been satisfied.
The Company may use the normal course issuer to repurchase Class A shares at or below intrinsic value. The current intrinsic value exceeds $7.00 per share.
As previously announced, the annual dividend rate for the Preferred Shares has been set at 7.00% for the fiveyear renewal period effective December 1, 2024. The dividend policy for the Class A Shares will remain at the current targeted rate of $0.10 per share monthly, or $1.20 per annum.
Some details would be appreciated! Like, how many shares of each class were retracted? I wouldn’t expect many preferreds got retracted, given that the issue has been trading over par for the past three months, but what about the Capital Units? Inquiring minds want to know!
The terms of the extension were reported on PrefBlog.
Thanks to Assiduous Reader IrateAR for bringing this to my attention!
This entry was posted on Monday, December 16th, 2024 at 10:09 pm and is filed under Better Communication, Please!, Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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DF.PR.A Retractions: Quadravest Coy
Quadravest has announced:
Some details would be appreciated! Like, how many shares of each class were retracted? I wouldn’t expect many preferreds got retracted, given that the issue has been trading over par for the past three months, but what about the Capital Units? Inquiring minds want to know!
The terms of the extension were reported on PrefBlog.
Thanks to Assiduous Reader IrateAR for bringing this to my attention!
This entry was posted on Monday, December 16th, 2024 at 10:09 pm and is filed under Better Communication, Please!, Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.