An anonymous director reports

DIVIDEND 15 SPLIT CORP. COMPLETES OVERNIGHT OFFERING OF $142,642,500

Dividend 15 Split Corp. has completed the overnight offering of preferred shares of the company. Total gross proceeds of the offering were $142.6-million.

The preferred shares will begin trading on the Toronto Stock Exchange under the existing symbol of DFN.PR.A. The offering was led by National Bank Financial Inc.

The net proceeds of the offering will be used by the company to invest in an actively managed, high-quality portfolio consisting of dividend-yielding Canadian companies as follows:

• Bank of Montreal;
• Bank of Nova Scotia;
• BCE Inc.;
• Canadian Imperial Bank of Commerce;
• Enbridge Inc.;
• Manulife Financial Corp.;
• National Bank of Canada;
• Royal Bank of Canada;
• Sun Life Financial Inc.;
• TC Energy;
• Telus Corp.;
• Thomson Reuters Corp.;
• Toronto-Dominion Bank;
• TransAlta Corp.

The company's preferred share investment objectives are to:

1. Provide holders with fixed, cumulative preferential monthly cash dividends in the amount of 7.00 per cent annually based on original $10 issue price;
2. On or about the termination date, currently Dec. 1, 2029 (subject to further five-year extensions and it has been extended in the past), to pay holders the original $10 issue price of those shares.