TORONTO, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Financial 15 Split Corp. ("Financial 15") declares its regular monthly distribution of $0.04583 for each Preferred share ($0.550 annually). Distributions are payable October 9, 2020 to shareholders on record as at September 30, 2020.
There will not be a distribution paid to the Class A Shares for September 30, 2020 as per the Prospectus which states no regular monthly dividends will be paid on the Class A shares in any month as long as the net asset value per unit is equal to or less than $15.00.
Since inception Class A shareholders have received a total of $20.40 per share and Preferred shareholders have received a total of $8.93 per share inclusive of this distribution, for a combined total of $29.34.
Financial 15 invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Corp, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co.
Distribution Details
| Preferred Share (FTN.PR.A) | $0.04583 |
| Ex-Dividend Date: | September 29, 2020 |
| Record Date: | September 30, 2020 |
| Payable Date: | October 9, 2020 |
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