- Global Dividend Split Corp (GDV) is pleased to announce a successful overnight treasury offering of class A shares and preferred shares
- Gross proceeds are expected to be approximately $55 million
- The offering is expected to close on or about June 22
- The company has granted the Agents an over-allotment option
- Global Dividend Growth Split Corp. is a closed-end investment fund that invests in a diversified portfolio of equity securities of large-capitalization global dividend growth companies
- Global Dividend Growth Split Corp. (GDV) is down 3.4 per cent, trading at C$12.50 per share at 3:25 pm ET
Global Dividend Split Corp (GDV) is pleased to announce a successful overnight treasury offering of class A shares and preferred shares.
Gross proceeds of the offering are expected to be approximately $55 million.
The offering is expected to close on or about June 22, 2021 and is subject to certain closing conditions.
The company has granted the Agents led by RBC Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and Scotiabank an over-allotment option to purchase up to an additional 15% of the number of matched Class A Shares and Preferred Shares issued during the offering.
The Class A Shares were offered at a price of $12.80 per Class A Share for a distribution rate of 9.4% on the issue price, and the Preferred Shares were offered at a price of $10.00 per Preferred Share for a yield to maturity of 5.3%.
The syndicate of agents for the offering was led by RBC Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and Scotiabank and includes BMO Capital Markets, Hampton Securities Limited, TD Securities Inc., Canaccord Genuity Corp., Raymond James Ltd., iA Private Wealth Inc., Richardson Wealth Limited, Echelon Wealth Partners Inc., Manulife Securities Incorporated, and Research Capital Corporation.
Global Dividend Split Corp. Global Dividend Growth Split Corp is a closed-end investment fund that invests in a diversified portfolio of equity securities of large-capitalization global dividend growth companies selected by Brompton Funds Limited. In order to qualify for inclusion in the portfolio, each global dividend growth company has a market capitalization of at least $10 billion and has a history of dividend growth or, a high potential for future dividend growth.
Global Dividend Growth Split Corp. Compound Annual NAV Returns to May 31, 2021 | 1-Yr | S.I. | ||||
Class A Shares (TSX: GDV) | 52.3 | % | 12.9 | % | ||
Preferred Shares (TSX: GDV.PR.A) | 5.1 | % | 5.1 | % | ||
Global Dividend Growth Split Corp. – Unit | 26.5 | % | 9.0 | % |
Returns are for the periods ended May 31, 2021 and are unaudited. Inception date June 15, 2018. The table shows the Company’s compound return on a Class A Share, Preferred Share and Unit for each period indicated.
Global Dividend Growth Split Corp. (GDV) is down 3.4 per cent, trading at C$12.50 per share at 3:25 pm ET.
