Commerce Split Delivers Monthly Dividends for Preferred Shares
Commerce Split Issues Monthly Dividends for Preferred Shares
Recently, the Commerce Split Company has officially declared its monthly dividend for both Class I and Class II Preferred shareholders. The distribution for Class I Preferred shareholders (YCM.PR.A) is set at $0.02500 per share, which amounts to an annual total of $0.30. Meanwhile, Class II Preferred shareholders (YCM.PR.B) will receive a higher dividend of $0.03125 per share, equating to an annual payment of $0.375.
Understanding the Dividend Structure
The dividends for Class I Preferred shares are calculated based on an annual rate of 6.00%, with calculations made from the $5 repayment amount. For the Class II Preferred shares, the dividends are calculated at an annual rate of 7.50%, also based on the same $5 repayment amount. This structured dividend distribution highlights the company's commitment to providing regular payments to its investors.
Details of Upcoming Distributions
Shareholders can expect to receive the dividend payments on October 10, 2024, provided they are on record as of September 30, 2024. It’s essential for investors to be aware of these dates to ensure they receive their rightful dividends.
Investment Focus of the Company
Commerce Split invests primarily in common shares of the Canadian Imperial Bank of Commerce. This strategic focus helps maintain a robust asset portfolio that can support consistent dividend disbursements, reflecting the company's financial health and operational strategy.
Contact Information for Shareholders
The company encourages shareholders to reach out for any inquiries regarding their dividends or investment details. The Investor Relations team is available at 1-877-478-2372, or locally at 416-304-4443. More information can also be accessed via their website, www.commercesplit.com.
Frequently Asked Questions
What is the dividend amount for Class I Preferred shares?
The dividend for Class I Preferred shares (YCM.PR.A) is $0.02500 per share.
When will the dividends be paid?
Dividends will be payable on October 10, 2024.
What is the annual return for Class II Preferred shares?
The annual return for Class II Preferred shares (YCM.PR.B) is 7.50%, amounting to $0.375 annually.
How does Commerce Split invest its resources?
The company primarily invests in common shares of the Canadian Imperial Bank of Commerce.
Who can I contact for more information about my dividends?
Investors can contact the Investor Relations team at 1-877-478-2372 or 416-304-4443 for inquiries.
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