{"id":32972,"date":"2016-04-26T20:27:54","date_gmt":"2016-04-27T01:27:54","guid":{"rendered":"http:\/\/prefblog.com\/?p=32972"},"modified":"2016-04-26T20:27:54","modified_gmt":"2016-04-27T01:27:54","slug":"dgs-pr-a-to-get-bigger-7","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=32972","title":{"rendered":"DGS.PR.A To Get Bigger"},"content":{"rendered":"

Brompton Funds has announced<\/a>:<\/p>\n

Dividend Growth Split Corp. (the \u201cCompany\u201d) is pleased to announce it has filed a preliminary short form base shelf prospectus, and is undertaking a treasury offering of class A and preferred shares. The final class A and preferred share offering prices will be determined so as to be non-dilutive to the net asset value per unit of the Company as of the pricing date, as adjusted for dividends and certain expenses to be accrued prior to or upon settlement of the offering.
\nThe Company 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. Currently, the portfolio consists of common shares of the following 20 companies:<\/p>\n

\n\n\n\n\n\n\n
Great-West Lifeco Inc.<\/td>\n\nThe Bank of Nova Scotia<\/td>\n\nCI Financial Corporation<\/td>\n\nShaw Communications Inc.<\/td>\n<\/tr>\n
Industrial Alliance Insurance and Financial Services Inc.<\/td>\n\nCanadian Imperial Bank of Commerce<\/td>\n\nIGM Financial Inc.<\/td>\n\nTELUS Corporation<\/td>\n<\/tr>\n
Manulife Financial Corporation<\/td>\n\nNational Bank of Canada<\/td>\n\nPower Corporation of Canada<\/td>\n\nCanadian Utilities Limited<\/td>\n<\/tr>\n
Sun Life Financial Inc.<\/td>\n\nRoyal Bank of Canada<\/td>\n\nBCE Inc.<\/td>\n\nEnbridge Inc.<\/td>\n<\/tr>\n
Bank of Montreal<\/td>\n\nThe Toronto-Dominion Bank<\/td>\n\nRogers Communications Inc.<\/td>\n\nTransCanada Corporation<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

The investment objectives for the class A shares are to provide holders with regular monthly cash distributions targeted to be $0.10 per class A share and to provide the opportunity for growth in the net asset value per class A share.<\/p>\n

The investment objectives for the preferred shares are to provide holders with fixed cumulative preferential quarterly cash distributions, currently in the amount of $0.13125 per preferred share, representing a yield on the original issue price of 5.25% per annum, and to return the original issue price to holders of preferred shares on the Company\u2019s maturity date (November 28, 2019).<\/p>\n

The syndicate of agents for the offering is being led by RBC Capital Markets, CIBC and Scotiabank.<\/p><\/blockquote>\n

DGS.PR.A was last mentioned on PrefBlog in connection with its 15H1 Semi-Annual Report<\/a>.<\/p>\n

Update, 2016-4-28<\/b>: Pricing and sizing announced<\/a>:<\/p>\n

Dividend Growth Split Corp. (the \u201cCompany\u201d) is pleased to announce that the Company\u2019s treasury offering of class A and preferred shares has been priced at $6.95 per class A share and $10.00 per preferred share. The final class A and preferred share offering prices were determined so as to be non-dilutive to the most recently calculated net asset value per unit of the Company, as adjusted for dividends and certain expenses to be accrued prior to or upon settlement of the offering, and voluntary payment of certain costs of the offering by the Manager. Gross proceeds of the offering are expected to be approximately $23 million.
…<\/b>
The Company intends to file a final short form base shelf prospectus along with a prospectus supplement to such final short form base shelf prospectus in each of the provinces and territories of Canada in connection with the offering. The offering is expected to close on or about May 6, 2016 and is subject to customary closing conditions including approvals of applicable securities regulatory authorities and the Toronto Stock Exchange.<\/p>\n

The syndicate of agents for the offering is being led by RBC Capital Markets, CIBC and Scotiabank and includes TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Industrial Alliance Securities Inc. and Mackie Research Capital Corporation.<\/p><\/blockquote>\n

Update, 2016-5-6<\/b>: They raised $23-million<\/a>:<\/p>\n

Dividend Growth Split Corp. (the \u201cCompany\u201d) is pleased to announce that it has completed a treasury offering of 1,357,000 class A shares and 1,357,000 preferred shares for aggregate gross proceeds of $23 million. The class A shares and preferred shares will continue to trade on the Toronto Stock Exchange under the existing symbols DGS (class A shares) and DGS.PR.A (preferred shares).<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Brompton Funds has announced: Dividend Growth Split Corp. (the \u201cCompany\u201d) is pleased to announce it has filed a preliminary short form base shelf prospectus, and is undertaking a treasury offering of class A and preferred …<\/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-32972","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32972","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=32972"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32972\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}