TDb Split Corp. Increases Priority Equity Share Rate
September 18 2024 - 4:30PM
TDb Split Corp. (the “Company”) is pleased to announce an increase
in the Priority Equity Share dividend rate to 7.00% from 5.25% on
the $10.00 repayment value for the new five-year term effective
December 1, 2024. The Priority Equity Share monthly dividends
will be $0.05833 per share or $0.70 per annum and the new
distribution rate represents an increase of $0.18 per annum from
the previous rate. Priority Equity shareholders have received a
total of $8.96 per share in distributions since inception. The
dividend policy for the Class A Shares will remain at the current
targeted rate of $0.05 per month, or $0.60 per annum.
As previously announced on March 12, 2024, the
Company will extend the termination date a further five year period
from December 1, 2024 to December 1, 2029. In relation
to the term extension and the Priority Equity Share rate increase,
the Company has an additional retraction right for those
shareholders not wishing to continue holding their investment,
allowing existing shareholders to tender one or both classes of
shares and receive a retraction price based on the November 29,
2024 net asset value per unit. Alternatively, shareholders may sell
their shares for the market price at any time, potentially at a
higher price than would be achieved through retraction, or
shareholders may take no action and continue to hold their
shares.
The Company invests in common shares of
Toronto-Dominion Bank, a leading Canadian Financial
institution.
Certain statements included in this news release
constitute forward-looking statements, including, but not limited
to, those identified by the expressions “expect”, “intend”, “will”
and similar expressions to the extent they relate to the Company.
The forward-looking statements are not historical facts but reflect
the Company’s current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations. Although the
Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. The
Company undertakes no obligation to update publicly or otherwise
revise any forward-looking statement or information whether as a
result of new information, future events or other such factors
which affect this information, except as required by law.
Commissions, trailing commissions, management fees and expenses all
may be associated with mutual fund investments. Investors should
read the prospectus before investing. Mutual funds are not
guaranteed, their values change frequently and past performance may
not be repeated. Please read the Company’s publicly filed documents
which are available at www.sedarplus.com.
Investor Relations: 1-877-478-2372Local:
416-304-4443www.tdbsplit.cominfo@quadravest.com
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