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Financings

Dividend 15 Split Corp. Announces Overnight Offering of Preferred Shares

By The Northwire Desk — AI Analysis Jan 15, 2026 · 15:20 DFN · 7.77 DIVIDEND 15 SPLIT CORP. CL 'A'
DFN · Price

Executive Summary

  • Dividend 15 Split Corp. announced an overnight offering of its Series A Preferred Shares (TSX: DFN.PR.A) at $10.45 per share, led by National Bank Financial Inc.
  • The offering is expected to close around January 23, 2026, subject to TSX approval and other closing conditions.
  • Net proceeds will be used to invest in a diversified portfolio of high‑quality dividend‑yielding Canadian companies.

Key Details

  • Offering Size & Price: Preferred Shares priced at $10.45 each; sales period ends 8:30 a.m. EST on Jan 16, 2026.
  • Closing Timeline: Anticipated closing on or about Jan 23, 2026; subject to TSX approval and other conditions.
  • Lead Manager: National Bank Financial Inc. (sole lead underwriter).
  • Recent Market Price: Closing price on TSX on Jan 14, 2026 was $10.52 per Preferred Share.
  • Dividend History: Since inception, aggregate dividends paid have been $11.75 per share, all taxed as eligible Canadian dividends.

  • Investment Objective for Proceeds: Deploy net proceeds into an actively managed portfolio of dividend‑yielding Canadian equities, including:

  • Bank of Montreal, Enbridge Inc., TC Energy

  • Bank of Nova Scotia, Manulife Financial Corp., TELUS Corporation
  • BCE Inc., National Bank of Canada, Thomson Reuters Corp.
  • Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto‑Dominion Bank

  • Sun Life Financial Inc., TransAlta Corporation

  • Preferred Share Terms: Fixed cumulative monthly cash dividend 7.00 % annually based on the original $10 issue price; redemption at original $10 issue price on or about Dec 1, 2029, with possible five‑year extensions (already exercised in the past).

  • Regulatory Filings: Prospectus supplement to the short‑form base shelf prospectus (dated Sep 6, 2024, amended Nov 21, 2025) will be filed with securities commissions; no sale or acceptance of offers until filing is complete.

Notable Quotes

(No executive quotes were provided in the release.)

Read the original news release →

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