TORONTO, ONTARIO — (Marketwired) — 10/20/14 — Dividend Select 15 Corp. (the “Company”) announced last month a change in the distribution policy to the Equity shares that resulted in an immediate 42% increase to the monthly dividend. The Company is pleased to announce a further 2.92% increase to the monthly distribution under the new distribution policy due to the increased market price of the Company–s Equity shares. The dividend for October will be $0.08508 per share.
Under the new distribution policy, the monthly dividend payable on the Equity shares will be determined by applying a 10% 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 October 31, 2014 will receive a dividend of $0.08508 per share based on the VWAP of $10.21 over the last 3 trading days in September, payable on November 10, 2014. Effectively, the actual amount of monthly distributions paid will vary with the market price, but the current yield will remain stable at 10% (based on the VWAP) under this new distribution policy.
Since inception (November 18, 2010) Equity shareholders have received a total of $2.79 per share inclusive of this distribution.
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.
Contacts:
Dividend Select 15 Corp.
Investor Relations
416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)