TORONTO, ONTARIO–(Marketwired – May 17, 2016) – North American Financial 15 Split Corp. (the “Company”) declares its regular monthly distribution of $0.04375 for each Preferred share ($0.525 annually). Distributions are payable June 10, 2016 to shareholders on record as at May 31, 2016.
There will not be a distribution paid to the Class A Shares for May 31, 2016 as per the Prospectus which states no regular monthly dividends will be paid on the Class A Shares in any month as long as the net asset value per unit is equal to or less than $15.00.
Since inception Class A shareholders have received a total of $9.75 per share (including one special distribution of $0.25 per share) and Preferred shareholders have received a total of $6.10 per share inclusive of this distribution, for a combined total of $15.85.
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.
| Distribution Details: | |
| Preferred Share (FFN.PR.A) | $0.04375 |
| Ex-Dividend Date: | May 27, 2016 |
| Record Date: | May 31, 2016 |
| Payable Date: | June 10, 2016 |
