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Dividend 15 Split Corp. launches $600 million ATM distribution program

Dividend 15 Split Corp. filed a prospectus supplement dated November 26, 2025, for an at-the-market distribution program offering up to $300 million in Preferred Shares and up to $300 million in Class A Shares. The Company entered into an equity distribution agreement with National Bank Financial Inc. as agent, which will receive compensation of up to 2.5% of the gross sales price per share sold.

The Preferred Shares and Class A Shares are listed on the Toronto Stock Exchange under symbols DFN.PR.A and DFN, respectively. On November 25, 2025, the last trading day prior to announcement, Preferred Shares closed at $10.51 and Class A Shares at $7.26. As of November 14, 2025, the Net Asset Value per Unit was $17.31. The Company is a mutual fund corporation incorporated under Ontario law that invests primarily in dividend-yielding common shares of 14 Canadian companies, including major banks, telecommunications firms, and energy companies.

Blake, Cassels & Graydon LLP serves as counsel to the Company, while Osler, Hoskin & Harcourt LLP represents the Agent. The offering has no minimum amount and may terminate after raising only a portion or none at all. Sales will be made in at-the-market distributions as defined in National Instrument 44-102, directly on the TSX at prevailing market prices.

Company

Dividend 15 Split Corp.

Law Firm / Organization
Blake, Cassels & Graydon LLP

Bank

National Bank Financial Inc.

Law Firm / Organization
Osler, Hoskin & Harcourt LLP
Public/Private Offering
Banking/Finance
$ 600,000,000
Active