TORONTO, ONTARIO--(Marketwired - May 13, 2013) - The Board of Directors of Dividend 15 Split Corp. II (the "Company") today announced that the Notice of Special Meeting of Shareholders and Management Information Circular relating to the previously announced special meeting of the holders of the Company's Preferred Shares and Class A Shares, to be held at 10:30 a.m. (Eastern standard time) on June 3, 2013, has been mailed to the shareholders.

The purpose of the meeting is to consider a special resolution to allow Class A and Preferred shareholders to continue their investment beyond the currently scheduled termination date of December 1, 2014. Under the proposal, the termination date would be extended by 5 years to December 1, 2019.

If the extension is approved, Class A and Preferred shareholders will be provided with a Special Retraction right which is designed to provide them with an opportunity to retract their shares and receive a retraction price that is calculated in the same way that such price would be calculated if the Company were to terminate on December 1, 2014 as originally contemplated.

Since inception, Class A shareholders have received a total of $6.90 per share and Preferred shareholders have received a total of $3.39 per share for a combined total of $10.29 per unit. All distributions have been made in tax advantaged eligible Canadian dividends or capital gains dividends. As at May 9, 2013, the annualized current yield of the Class A shares is 16.50% and for the Preferred shares it is 5.08%.

For full details, please review the Notice of Special Meeting of Shareholders and the Management Information Circular which is available on SEDAR and the Company's website at www.dividend15.com.

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.