Dividend Select 15 Corp. Announces Successful Overnight Offering
08 March 2018 - 2:12AM
Dividend Select 15 Corp. (the “Company”) is pleased to announce it
has completed the overnight marketing of up to 914,000 Equity
Shares of the Company. Total proceeds of the offering are expected
to be approximately $7.8 million.
The offering was co-led by National Bank
Financial Inc., CIBC World Markets Inc., Scotia Capital Inc. and
RBC Capital Markets, and also included TD Securities Inc., BMO
Capital Markets, Canaccord Genuity Corp., Industrial Alliance
Securities Inc., Echelon Wealth Partners, GMP Securities L.P.,
Raymond James Ltd., Desjardins Securities Inc., Mackie Research
Capital Corporation, and Manulife Securities Incorporated.
The sales period of the overnight offering has
now ended.
The offering is expected to close on or about
March 21, 2018 and is subject to certain closing conditions
including approval by the TSX.
The Equity Shares were offered at a price of
$8.55 per Share to yield 10%. The closing price on the TSX of
the Equity Shares on March 6, 2018 was $8.68.
The net proceeds of the secondary offering will
be used by the Company to invest in an actively managed portfolio
of 15 Canadian companies selected from the following 20 company
universe which are among the highest Canadian dividend yielding
stocks.
Bank
of Montreal |
Great-West Lifeco Inc. |
TELUS
Corporation |
BCE
Inc. |
Husky
Energy Inc. |
The
Bank of Nova Scotia |
CIBC |
National Bank of Canada |
The
Toronto-Dominion Bank |
CI
Financial Corp. |
Power
Corporation of Canada |
Thomson Reuters Corporation |
Enbridge Inc. |
Royal
Bank of Canada |
TMX
Group Inc. |
EnCana Corporation |
Loblaw Companies Limited |
TransAlta Corporation |
|
Sun
Life Financial Inc. |
TransCanada Corporation |
The Company’s investment objectives are:
To provide Equity Shares of the Company with (i) monthly cash
distributions currently at a 10% annualized rate based on the
volume weighted average market price of the Equity Shares over the
last three trading days of the preceding month, plus (ii) the
opportunity for capital appreciation.
The Company will today file an amended and
restated preliminary short form prospectus, containing important
information relating to the Equity Shares, with securities
commissions or similar authorities in all provinces of
Canada. The amended and restated preliminary short form
prospectus is still subject to completion or amendment.
Copies of the amended and restated preliminary short form
prospectus may be obtained from your registered financial advisor
using the contact information for such advisor, or from
representatives of the underwriters listed above. Investors
should read the prospectus before making an investment
decision. There will not be any sale or any acceptance of an
offer to buy the securities until a receipt for the final
prospectus has been issued.
For further information, please contact Investor
Relations at:
1-877-478-2372 Local:
416-304-4443
www.dividendselect15.com
info@quadravest.com
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