TORONTO, Jan. 15, 2013 /CNW/ - The Board of Directors of SL Split Corp. (the "Company") has today declared an ordinary dividend of $0.3223 per Preferred Share payable on January 31, 2013 to holders of record at the close of business on January 29, 2013.
The Capital Shares and Preferred Shares will be redeemed by the Company on January 31, 2013 (the "Redemption Date") in accordance with the redemption provisions of the shares as described in the prospectus dated October 31, 2007. The Preferred Shares will be redeemed at the lesser of (i) $25.78; and (ii) the Unit Value. Holders of the Capital Shares will receive an amount per share, if any, by which the Unit Value exceeds $25.78. As at January 14, 2013 the Unit Value was $27.28.
A further press release will be issued by the Company in connection with the redemption prices on January 30, 2013. Payment of the amounts due to holders of Capital Shares and Preferred Shares will be made by the Company on January 31, 2013.
SL Split Corp. is a mutual fund corporation created to hold a portfolio of common shares of Sun Life Financial Inc. The Company will generate a fixed quarterly dividend for the Preferred shareholders and provide the Capital shareholders with a leveraged investment, the value of which is linked to changes in the market price of the Sun Life shares. Capital Shares and Preferred Shares of SL Split Corp. are listed for trading on The Toronto Stock Exchange under the symbols SLS and SLS.PR.A respectively.
SOURCE: SL Split Corp.
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