Dividend Growth Split Corp. Files Final Prospectus
November 30 2010 - 2:03PM
Marketwired Canada
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.
Dividend Growth Split Corp. (TSX:DGS)(TSX:DGS.PR.A) is pleased to announce that
it has filed a final short form prospectus for its treasury offering of up to
1,100,000 class A shares and up to 1,100,000 preferred shares for aggregate
gross proceeds of up to $21,230,000. The expected closing date is December 10,
2010. Shares will continue to trade on the Toronto Stock Exchange under the
existing symbols DGS (class A shares) and DGS.PR.A (preferred shares).
Dividend Growth Split Corp. invests in a portfolio of common shares of high
quality, large capitalization companies, which have among the highest dividend
growth rates of those companies included in the S&P/TSX Composite Index. The
portfolio consists of common shares of the following 20 companies:
AGF Management IGM Financial Inc. Royal Bank of Canada
Limited
Bank of Montreal Industrial Alliance Insurance Shaw Communications
and Financial Services Inc. Inc.
The Bank of Nova Manitoba Telecom Services Sun Life Financial Inc.
Scotia Limited
Canadian Imperial Manulife Financial Corporation TELUS Corporation
Bank of Commerce
Canadian Utilities National Bank of Canada The Toronto-Dominion
Limited Bank
Enbridge Inc. Power Corporation of Canada TransCanada Corporation
Great-West Lifeco Rogers Communications Inc.
Inc.
The preferred shares were offered at a price of $10.00 per share. The investment
objectives for the preferred shares are to provide their holders with fixed
cumulative preferential quarterly cash distributions in the amount of $0.13125
per preferred share to yield 5.25% per annum on the original issue price, and to
return the original issue price at the time of redemption on November 30, 2014.
The class A shares were offered at a price of $9.30 per share. The class A share
offering price is non-dilutive to existing class A shareholders as it was set at
a level that ensures that the net proceeds of the Offering per Unit are greater
than the most recently calculated Net Asset Value per Unit prior to the date of
the final prospectus. The investment objectives for the class A shares are to
provide their holders with regular monthly cash distributions targeted to be
$0.10 per class A share, and to provide the opportunity for growth in net asset
value per class A share.
The offering was placed through a group of agents co-led by RBC Capital Markets
and CIBC World Markets Inc., and included TD Securities Inc., BMO Nesbitt Burns
Inc., National Bank Financial Inc., Scotia Capital Inc., GMP Securities L.P.,
HSBC Securities (Canada) Inc., Mackie Research Capital Corporation, Macquarie
Private Wealth Inc., Manulife Securities Incorporated, Raymond James Ltd.,
Canaccord Genuity Corp., Dundee Securities Corporation, Desjardins Securities
Inc., and Wellington West Capital Markets Inc.
For further information, please contact your financial advisor, call Brompton's
investor relations line at 416-642-9051 (toll-free at 1-866-642-6001) or visit
our website at www.bromptongroup.com.
Commissions, trailing commissions, management fees and expenses all may be
associated with investment funds. Please read the fund's publicly filed
documents which are available from SEDAR at www.sedar.com. Investment funds are
not guaranteed, their values change frequently and past performance may not be
repeated.
Certain statements contained in this news release constitute forward-looking
information within the meaning of Canadian securities laws. Forward-looking
information may relate to matters disclosed in this press release and to other
matters identified in public filings relating to the Fund, to the future outlook
of the Fund and anticipated events or results and may include statements
regarding the future financial performance of the Fund. In some cases,
forward-looking information can be identified by terms such as "may", "will",
"should", "expect", "plan", "anticipate", "believe", "intend", "estimate",
"predict", "potential", "continue" or other similar expressions concerning
matters that are not historical facts. Actual results may vary from such
forward-looking information.
The securities offered have not been registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or any applicable exemption from the registration requirements.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities nor will there be any sale of such securities in any
state in which such offer, solicitation or sale would be unlawful.
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