Dividend Growth Split Corp. Files Final Prospectus
11 Oktober 2013 - 5:00PM
Marketwired Canada
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Dividend Growth Split Corp. (TSX:DGS)(TSX:DGS.PR.A) is pleased to announce that
it has filed a final prospectus with respect to a treasury offering of up to
3.915 million class A shares and up to 3.915 million preferred shares for
aggregate gross proceeds of up to approximately $75 million.
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.
Currently, the portfolio consists of common shares of the following 20
companies:
Great-West Lifeco The Bank of Nova AGF Management Shaw
Inc. Scotia Limited Communications
Inc.
Industrial Canadian Imperial IGM Financial TELUS Corporation
Alliance Bank of Commerce Inc.
Insurance and
Financial
Services Inc.
Manulife National Bank of Power Corporation Canadian
Financial Canada of Canada Utilities Limited
Corporation
Sun Life Royal Bank of Manitoba Telecom Enbridge Inc.
Financial Inc. Canada Services Limited
Bank of Montreal The Toronto- Rogers TransCanada
Dominion Bank Communications Corporation
Inc.
The class A shares are being offered at a price of $9.10 and the preferred
shares are being offered at a price of $10.07. The final class A and preferred
share offering prices were determined so as to be non-dilutive to the most
recent calculated net asset value per unit of the Company prior to the filing of
the prospectus.
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 net asset value per class A share.
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 offer price
of 5.2% per annum, and to return the original issue price to holders of
preferred shares on the original November 30, 2014 maturity date.
On October 1, 2013, the Company announced an extension of the maturity date of
the class A and preferred shares of the Company for an additional 5 year term to
November 28, 2019, subject to extension for successive terms of up to 5 years.
The preferred share dividend rate for the extended term will be announced at
least 60 days prior to the original November 30, 2014 maturity date. The new
dividend rate will be determined based on then-current market yields for
preferred shares with similar terms.
The syndicate of agents for the offering is being led by RBC Capital Markets and
CIBC and includes Scotiabank, TD Securities Inc., BMO Capital Markets, National
Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity
Corp., Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research
Capital Corporation, and Macquarie Private Wealth Inc.
About Brompton Funds
Brompton Funds, a division of Brompton Group, is an experienced investment fund
manager operating since 2002. Brompton is focused on meeting the needs of
investors by offering low cost, innovative products with client friendly terms
and supported by strong corporate governance. For further information, please
contact your investment advisor, call Brompton's investor relations line at
416-642-6000 / toll-free at 1-866-642-6001/ email info@bromptongroup.com or
visit our website at www.bromptongroup.com.
Commissions, trailing commissions, management fees and expenses all may be
associated with investment funds. Please read the Company's publicly filed
documents which are available from SEDAR at www.sedar.com. Investment funds are
not guaranteed, their values change frequently and past performance may not be
repeated.
Certain statements contained in this news release constitute forward-looking
information within the meaning of Canadian securities laws. Forward-looking
information may relate to matters disclosed in this news release and to other
matters identified in public filings relating to the Company, to the future
outlook of the Company and anticipated events or results and may include
statements regarding the future financial performance of the Company. In some
cases, forward-looking information can be identified by terms such as "may",
"will", "should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue" or other similar expressions
concerning matters that are not historical facts. Actual results may vary from
such forward-looking information.
The securities offered have not been registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or any applicable exemption from the registration requirements.
This news release does not constitute an offer to sell or the solicitation of an
offer to buy securities nor will there be any sale of such securities in any
state in which such offer, solicitation or sale would be unlawful.
This offering is only made by prospectus. A final prospectus containing
important detailed information about the securities being offered has been
filed. Copies of the prospectus may be obtained from any of the above-mentioned
agents. Investors should read the prospectus before making an investment
decision.
FOR FURTHER INFORMATION PLEASE CONTACT:
Brompton Funds
Investor Relations
416-642-6000 or toll-free at 1-866-642-6001
info@bromptongroup.com
www.bromptongroup.com
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