{"id":10366,"date":"2010-04-05T15:07:05","date_gmt":"2010-04-05T19:07:05","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=10366"},"modified":"2010-04-05T15:07:05","modified_gmt":"2010-04-05T19:07:05","slug":"dgs-pr-a-to-get-bigger","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=10366","title":{"rendered":"DGS.PR.A To Get Bigger"},"content":{"rendered":"

Dividend Growth Split Corp. has announced (via SEDAR<\/a>; press release dated 2010-4-1; management’s too lazy to put it on their web site<\/a> [Update: But see the comments!]<\/i><\/b>):<\/p>\n

it has filed a preliminary short form prospectus with respect to a treasury offering of preferred shares and class A shares.<\/p>\n

Dividend Growth Split Corp. invests in a portfolio of common shares of high quality, large capitalization companies, which have among the highest dividend growth rates of those companies included in the S&P\/TSX Composite Index. Subsequent to the closing of this offering, the portfolio will consist of common shares of the following 20 companies:
…<\/b>
The preferred shares will be offered at a price of $10.00 per share. The closing price of the preferred shares on the TSX on March 31, 2010 was $10.32. The investment objectives for the preferred shares are to provide their holders with fixed cumulative preferential quarterly cash distributions in the amount of $0.13125 per preferred share to yield 5.25% per annum on the original issue price, and to return the original issue price to holders of preferred shares at the time of redemption on November 30, 2014.<\/p>\n

The class A shares will be offered at a price of $9.75 per share. The closing price of the class A shares on the TSX on March 31, 2010 was $9.95. The investment objectives for the class A shares are to provide their holders with regular monthly cash distributions targeted to be $0.10 per class A share, and to provide the opportunity for growth in net asset value per class A share.<\/p><\/blockquote>\n

The red-herring prospectus filed on SEDAR does not specify a closing date.<\/p>\n

DGS.PR.A was last mentioned on PrefBlog when it was upgraded to Pfd-3 by DBRS<\/a>. It is not tracked by HIMIPref™ as it is too small an issue to trade efficiently (slightly over 2-million shares outstanding on 2009-12-31, according to the 2009 Annual Report<\/a> … but that could change!<\/p>\n","protected":false},"excerpt":{"rendered":"

Dividend Growth Split Corp. has announced (via SEDAR; press release dated 2010-4-1; management’s too lazy to put it on their web site [Update: But see the comments!]): it has filed a preliminary short form prospectus …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-10366","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/10366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10366"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/10366\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}