AllBanc Split Corp. Declares Quarterly Dividends
14 October 2016 - 5:59AM
PR Newswire (Canada)
TORONTO, Oct. 13, 2016 /CNW/ - The Board of Directors of
AllBanc Split Corp. (the "Company") has today declared dividends of
$0.3164 per Preferred Share and
$0.4850 per Capital Share, payable on
December 9, 2016 to holders of record
at the close of business on November
24, 2016.
Holders of Preferred Shares are entitled to receive quarterly
fixed cumulative distributions equal to $0.3164 per Preferred Share. The Company's
Capital Share dividend policy is to pay a quarterly dividend on the
Capital Shares equal to the dividends received on the underlying
portfolio securities minus the dividends payable on the Preferred
Shares and all administrative and operating expenses provided the
net asset value per Unit at the time of declaration, after giving
effect to the dividend, would be greater than the original issue
price of the Preferred Shares.
AllBanc Split Corp. is a mutual fund corporation created to hold
a portfolio of publicly listed common shares of selected Canadian
chartered banks. Class A Capital Shares, and Class C Preferred
Shares of AllBanc Split Corp. are listed for trading on The Toronto
Stock Exchange under the symbols ABK.A and ABK.PR.C
respectively.
SOURCE Allbanc Split Corp.
Copyright 2016 Canada NewsWire