Dividend 15 Split Corp. closes C$36M overnight offering

On January 25, 2019 Dividend 15 Split Corp. announced that it completed the overnight offering of 1,930,000 Preferred Shares and 1,930,000 Class A Shares of the company, with the gross proceeds of the offering totaling C$36 million. The Preferred Shares were offered at a price of $9.90 per Preferred Share to yield 5.3% and the Class A Shares were offered at a price of $8.75 per Class A Share to yield 13.7%. The offering was co-led by National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc. and RBC Capital Markets.

National Bank Financial, Inc. is an investment banking firm based in Montreal, which provides corporate finance, and securities clearing services, as well as merchant and corporate banking, retail and institutional brokerage, mergers and acquisitions advisory.

Dividend 15 Split Corp. is a Toronto-based investment corporation that invests primarily in a portfolio of 15 dividend yielding, high quality Canadian companies. The company is designed to pay monthly cash dividends.

McCarthy Tétrault LLP advised National Bank Financial, Inc. with a team led by Andrew Armstrong that included Mariko Rivers (Business), Patrick McCay and Justin Shoemaker (Tax).