Big 8 Split Inc. Announces Quarterly Dividends on Class D Preferred Shares
TORONTO, Nov. 22, 2018 (GLOBE NEWSWIRE) — Big 8 Split Inc. (the “Company”) announced today that it has declared a quarterly dividend of $0.1125 per Class D Preferred Share. In addition, a quarterly dividend on its Class D Capital Shares was declared of $0.60 per Class D Capital Share. In anticipation of the final redemption of the Class D Capital Shares on December 14, 2018, for this final dividend the Company has determined to increase the amount of the dividend payable in order to attempt to increase the overall after-tax proceeds for holders of Class D Capital Shares who expect to continue to hold their shares until the final redemption date. The dividends on the Class D Preferred Shares and the Class D Capital Shares are payable on December 14, 2018 to holders of record on November 30, 2018.
The Company was established to generate dividend income for the Class D Preferred Shares while providing holders of the Class D Capital Shares with a leveraged opportunity to participate in capital appreciation from a portfolio of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Toronto-Dominion Bank, Great-West Lifeco Inc., Manulife Financial Corporation, and Sun Life Financial Inc. Information concerning Big 8 Split Inc. is available on our website at www.timbercreek.com/investments/managed-companies/big8-split-inc/overview.
The Class D Capital Shares and Class D Preferred Shares of Big 8 Split are listed on the Toronto Stock Exchange under the symbols BIG.D and BIG.pr.D respectively.
For further information contact:
Timbercreek Asset Management Inc.