Dividend 15 Split arranges preferred share offering

Executive Summary

• Dividend 15 Split Corp. announced an overnight offering of preferred shares led by National Bank Financial Inc., with sales ending on January 16, 2026, and expected closing on or about January 23, 2026.
• The preferred shares are priced at $10.45 per share, with net proceeds designated for investment in a portfolio of high-quality, dividend-yielding Canadian companies.
• The securities offer fixed, cumulative preferential monthly cash dividends of 7.00% annually based on the $10 issue price, with a termination date currently set for December 1, 2029.

Key Details

• Offering Structure: Overnight offering of preferred shares.
• Lead Underwriter: National Bank Financial Inc.
• Pricing: $10.45 per preferred share.
• Sales Period: Ends at 8:30 a.m. EST on January 16, 2026.
• Expected Closing: On or about January 23, 2026, subject to closing conditions including Toronto Stock Exchange approval.
• Use of Proceeds: Net proceeds will be invested in an actively managed, high-quality portfolio of dividend-yielding Canadian companies, specifically:
  • Bank of Montreal
  • Bank of Nova Scotia
  • BCE Inc.
  • Canadian Imperial Bank of Commerce
  • Enbridge Inc.
  • Manulife Financial Corp.
  • National Bank of Canada
  • Royal Bank of Canada
  • Sun Life Financial Inc.
  • TC Energy
  • Telus Corp.
  • Thomson Reuters Corp.
  • Toronto-Dominion Bank
  • TransAlta Corp.
• Dividend Terms: Fixed, cumulative preferential monthly cash dividends of 7.00% annually based on the original $10 issue price.
• Redemption/Termination: On or about the termination date (currently December 1, 2029, subject to five-year extensions), holders will receive the original $10 issue price.
• Regulatory Filings: A prospectus supplement to the short-form base shelf prospectus (dated Sept. 6, 2024, as amended Nov. 21, 2025) will be filed with securities commissions in all Canadian provinces.

Notable Quotes

• None provided in the text.