TORONTO, May 20, 2015 /CNW/ - 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 $0.0430 per Class D Share, representing a reduction from the dividend paid in the prior quarter. The Class D Capital Share dividend for the quarter was reduced to take account of higher taxes expected to be paid in 2015, due to the fact that loss carry forwards were generally exhausted in the prior year. The dividends on both the Class D Preferred Shares and Class D Capital Shares are payable on June 15, 2015 to holders of record on May 29, 2015.
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/big8-split-inc.
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.
SOURCE Timbercreek Asset Management Inc.
For further information: Timbercreek Asset Management Inc., Carrie Morris, Investor Relations, [email protected]