| Financial 15 Split
II Corporation is a high quality portfolio consisting of 15 financial services
companies made up of Canadian and U.S. issuers. The portfolio shares have
demonstrated a record of above-average long-term share performance and
dividend growth. Financial Services companies are expected to benefit
from a growing economic and capital markets recovery, earnings growth
momentum and continued consolidation trends within the industry.
Portfolio Core Holdings:
| Canadian Issuers |
|
U.S. Issuers |
| |
|
|
| Bank of Montreal |
National Bank of Canada |
Bank of America Corp. |
| The Bank of Nova Scotia |
Manulife Financial Corporation |
Citigroup Inc. |
| Canadian Imperial Bank of Commerce |
Sun Life Financial Services of Canada Inc. |
Goldman Sachs |
| Royal Bank of Canada |
Great-West Lifeco Inc. |
JP Morgan & Chase |
| The Toronto-Dominion Bank |
CI Financial Corp. |
Wells Fargo & Co. |
Shares held within the Portfolio are expected to range
between 4-8% in weight but may vary from time to time.
Objectives
Preferred Shares:
(i) to provide holders of the Preferred Shares with fixed,
cumulative preferential monthly cash dividends in the amount of $0.04375
per Preferred Share to yield 5.25% per annum on the original issue price;
and
(ii) on or about December 1, 2014 (termination date),
to pay the holders of the Preferred Shares the original issue price of
those shares.
Class A Shares:
(i) to provide holders of the Class A Shares with regular
monthly cash dividends initially targeted to be $0.10 per Class A Share
to yield 8.0% per annum on the original issue price; and
(ii) on or about December 1, 2014 (termination date),
to pay the holders of Class A Shares at least the original issue price
of those shares.
| Preferred Share Highlights |
Class A Share Highlights |
Fixed cumulative monthly dividends (5.25%
or $0.525 per share annually)
Quality investments and diversification
Strong downside protection and asset coverage
Pfd-3 (low) DBRS Rating - Dec 22/09
Competitive Yield
Eligible for registered accounts |
Monthly cash dividends (8.0% or $1.20
per share annually)
Quality investments and diversification
Leverage to performance of high quality stocks
Capital appreciation potential
Attractive alternative to other income vehicles
Eligible for registered accounts |
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