Financial 15 Split Corp. to Begin Post-Consolidation Trading
December 17 2020 - 7:30AM
Financial 15 Split Corp. (“the Company”) announces that its Class A
shares will begin trading on a post-consolidation basis upon market
open today. Class A shares were consolidated such that each Class A
shareholder received 0.40 Class A shares for each Class A share
held. The closing trading price of the pre-consolidation Class A
shares on December 16, 2020 of $4.14 translates to a price of
$10.35 post-consolidation. There is no change to the aggregate
intrinsic value of Class A shareholders’ holdings as a result of
the consolidation.
As announced previously, Class A shareholders of
record on December 31, 2020 are entitled to receive a monthly
dividend of $0.1257 (targeted at $1.5084 annually), representing a
current yield of 14.6% based on a post-consolidation trading price
of $10.35.
Since inception, Class A shareholders have
received a total of $55.00 in distributions per post-consolidation
share.
The Company invests in a high-quality portfolio
consisting of 15 financial services companies made up of Canadian
and U.S. issuers as follows: Bank of Montreal, The Bank of Nova
Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada,
Toronto-Dominion Bank, National Bank of Canada, Manulife Financial
Corporation, Sun Life Financial, Great-West Lifeco., CI Financial
Corp, Bank of America, Citigroup Inc., Goldman Sachs Group, JP
Morgan Chase & Co. and Wells Fargo & Co.
Certain statements included in this news release
constitute forward-looking statements, including, but not limited
to, those identified by the expressions “expect”, “intend”, “will”
and similar expressions to the extent they relate to the Company.
The forward-looking statements are not historical facts but reflect
the Company’s current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations. Although the
Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. The
Company undertakes no obligation to update publicly or otherwise
revise any forward-looking statement or information whether as a
result of new information, future events or other such factors
which affect this information, except as required by law.
Commissions, trailing commissions, management fees and expenses all
may be associated with mutual fund investments. Investors should
read the prospectus before investing. Mutual funds are not
guaranteed, their values change frequently and past performance may
not be repeated. Please read the Company’s publicly filed documents
which are available at www.sedar.com.
Investor Relations: 1-877-478-2372Local:
416-304-4443www.financial15.cominfo@quadravest.com
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