- Dividend Growth Split Corp. (DGS) completed an overnight treasury offering of Class A shares and Preferred shares
- Gross proceeds of the offering are expected to be approximately $76.4 million
- The closing price on the Toronto Stock Exchange for each of the Class A and Preferred shares on December 8, 2021 was $6.92 and $10.06
- Dividend Growth Split Corp. Class A shares (DGS) are down 4.05 per cent trading at $6.64 per share as of 2:39 p.m. EST
- Dividend Growth Split Corp. Preferred shares (DGS.PR.A) is down 0.70 per cent trading at $9.99 per share as of 2:40 p.m. EST
Dividend Growth Split Corp. (DGS, DGS.PR.A) completed an overnight treasury offering of Class A shares and Preferred shares.
Gross proceeds of the offering are expected to be approximately $76.4 million.
The Class A shares were offered at a price of $6.80 per share for a distribution rate of 17.6 per cent on the issue price.
The Preferred shares were offered at a price of $10.00 per Preferred share for a yield to maturity of 5.6 per cent.
The closing price on the Toronto Stock Exchange for each of the Class A and Preferred shares on December 8, 2021, was $6.92 and $10.06.
Dividend Growth has granted the agents involved an over-allotment option.
The option is exercisable for 30 days after the closing to purchase up to an additional 15 per cent of the number of Class A and Preferred shares.
Dividend Growth invests in a portfolio consisting primarily of equity securities of Canadian dividend growth companies.
Dividend Growth may hold up to 20 per cent of the total assets of the portfolio in global dividend growth companies for return potential, at the discretion of Brompton Funds Limited.
Brompton is an experienced investment fund manager with income-focused investment solutions including exchange-traded funds and other TSX traded investment funds.
Dividend Growth Split Corp. Class A shares (DGS) are down 4.05 per cent trading at $6.64 per share as of 2:39 p.m. EST.
Dividend Growth Split Corp. Preferred shares (DGS.PR.A) are down 0.70 per cent trading at $9.99 per share as of 2:40 p.m. EST.