Source: Dividend Select 15 Corp.
Dividend Select 15 Corp. Declares Monthly Dividend
TORONTO, May 22, 2020 (GLOBE NEWSWIRE) -- Dividend Select 15 Corp. (The "Company") declares its monthly distribution of $0.04892 per Equity share. The distribution is payable June 10, 2020 to shareholders on record as of May 29, 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 May 29, 2020 will receive a dividend of $0.04892 per share based on the VWAP of $5.87 payable on June 10, 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 $7.42 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) | $0.04892 |
| Ex-Dividend Date: | May 28, 2020 |
| Record Date: | May 29, 2020 |
| Payable Date: | June 10, 2020 |
Investor Relations: 1-877-478-2372
Local: 416-304-4443
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