Dividend Select 15 Corp. Declares Monthly Dividend
TORONTO, April 23, 2020 (GLOBE NEWSWIRE) -- Dividend Select 15 Corp. (The "Company") declares its monthly distribution of $0.04408 per Equity share. The distribution is payable May 8, 2020 to shareholders on record as of April 30, 2020.
Under the distribution policy announced in September 2014, the monthly dividend payable on the Equity shares is determined by applying a 10.00% annualized rate on the volume weighted average market price (VWAP) of the Equity shares over the last 3 trading days of the preceding month. As a result, Equity shareholders of record on April 30, 2020 will receive a dividend of $0.04408 per share based on the VWAP of $5.29 payable on May 8, 2020. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.
Since inception, Equity shareholders have received a total of $7.37 per share inclusive of this distribution.
Since the latter part of February 2020, financial markets have been extremely volatile in response to the developing COVID-19 pandemic and equity markets in particular have experienced significant declines. The investment portfolio of the Company has been subject to these market fluctuations and the net assets of the Company have been materially negatively impacted. The Company’s investment portfolio may continue to experience significant volatility as the situation evolves.
The Company invests in a portfolio of 15 Canadian companies selected from the following 20 company universe which are among the highest Canadian dividend yielding stocks.
| Bank of Montreal | Great West Lifeco Inc. | TELUS Corporation |
| BCE Inc. | Husky Energy Inc. | The Bank of Nova Scotia |
| CIBC | National Bank of Canada | The Toronto-Dominion Bank |
| CI Financial Corp. | Power Corporation of Canada | Thomson Reuters Corporation |
| Enbridge Inc. | Royal Bank of Canada | TMX Group Inc. |
| EnCana Corporation | Loblaw Companies Limited | TransAlta Corporation |
| Sun Life Financial Inc. | TC Energy Corporation |
| Distribution Details | |
| Equity Share (DS) | $0.04408 |
| Ex-Dividend Date: | April 29, 2020 |
| Record Date: | April 30, 2020 |
| Payable Date: | May 8, 2020 |
Investor Relations: 1-877-478-2372
Local: 416-304-4443
dividendselect15.com
