Commerce Split Delivers Monthly Dividends for Preferred Shares

Author: Owen Jenkins Updated: 09-18-2024 09:18 AM

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.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

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