US Financial 15 Split Corp. Preferred Share Rate Maintained
18 September 2024 - 10:27PM
US Financial 15 Split Corp. (the “Company”) announces there will be
no change to the Preferred Share dividend rate for the new six-year
term commencing December 1, 2024. Payments will continue to be
equal to 10.00% annually, based on the net asset value per unit
calculated as at the end of the preceding month, with a maximum of
$0.08333 per Preferred Share monthly or $1.00 per annum. The rate
is in keeping with market yields for preferred shares with similar
terms.
As previously announced on March 12, 2024 the
Company will extend the termination date a further six year period
from December 1, 2024 to December 1, 2030. In relation to the term
extension, the Company has an additional retraction right for those
shareholders not wishing to continue holding their investment,
allowing existing shareholders to tender any or all classes of
shares and receive a retraction price based on the November 29,
2024 net asset value per unit. Alternatively, shareholders may sell
their shares for the market price at any time, potentially at a
higher price than would be achieved through retraction, or
shareholders may take no action and continue to hold their
shares.
US Financial 15 invests in a portfolio
consisting of 15 U.S. financial services companies as follows:
American Express, Bank of America, Bank of New York Mellon Corp.,
Citigroup, CME Group Inc., Fifth Third Bancorp, The Goldman Sachs
Group, J.P. Morgan Chase & Co., Morgan Stanley, PNC Financial
Services Group Inc., Regions Financial Corp., State Street Corp.,
Truist Financial Corp., U.S. Bancorp, and Wells Fargo & Co.
Certain statements included in this news release
constitute forward-looking statements, including, but not limited
to, those identified by the expressions “expect”, “intend”, “will”
and similar expressions to the extent they relate to the Company.
The forward-looking statements are not historical facts but reflect
the Company’s current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations. Although the
Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. The
Company undertakes no obligation to update publicly or otherwise
revise any forward-looking statement or information whether as a
result of new information, future events or other such factors
which affect this information, except as required by law.
Commissions, trailing commissions, management fees and expenses all
may be associated with mutual fund investments. Investors should
read the prospectus before investing. Mutual funds are not
guaranteed, their values change frequently and past performance may
not be repeated. Please read the Company’s publicly filed documents
which are available at www.sedarplus.com.
Investor Relations: 1-877-478-2372 |
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Local: 416-304-4443 |
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www.financial15.com |
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info@quadravest.com |
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