Business News • MarketWire • Brompton Split Banc Corp. Announces Distribution Rates |
Brompton Split Banc Corp. Announces Distribution Rates |
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Brompton Split Banc Corp. Announces Distribution Rates
TORONTO, ONTARIO--(Marketwired - Sept. 28, 2017) - (TSX:SBC)(TSX:SBC.PR.A) Brompton Split Banc Corp. (the "Fund") announces that the distribution rate for the Preferred Shares for the 5 year term from December 1, 2017 to November 29, 2022 will be $0.50 per annum (5.0% on the original issue price of $10) payable quarterly. The Preferred Share distribution rate is based on current market rates for preferred shares with similar terms. In addition, the Fund intends to maintain the targeted monthly Class A Share distribution rate at $0.10 per Class A Share. The Fund previously announced the extension of the term of the Class A Shares and the Preferred Shares from November 29, 2017 to November 29, 2022. The term extension offers Preferred shareholders the opportunity to enjoy preferential cash dividends until November 29, 2022. Since inception in November 2005 to August 31, 2017, the Preferred share has delivered an attractive 5.1%(1) per annum return.
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