TDb Split Corp. Boosts Dividend Rates for Shareholders
Boosting Returns: TDb Split Corp's New Dividend Strategy
TDb Split Corp. is making notable changes to its Priority Equity Share dividend rate, a decision that reflects its commitment to rewarding shareholders. The company has announced an increase of the rate from 5.25% to 7.00% on a repayment value of $10.00, effective December 1, 2024. This adjustment translates to monthly dividends of $0.05833 per share, totaling $0.70 annually, significantly enhancing shareholder returns.
Understanding the Dividend Increase
This new distribution rate represents an increase of $0.18 per annum over the previous rate, illustrating TDb Split Corp.'s proactive approach in managing its dividend policy. Since its inception, Priority Equity shareholders have received a cumulative total of $8.96 per share in distributions, showcasing a consistent commitment to delivering value.
Extension of Fund Duration
Additionally, TDb Split Corp. has decided to extend the termination date of its fund by an extra five years, shifting it from December 1, 2024, to December 1, 2029. This extension time allows investors more flexibility and the opportunity to benefit from prospective future gains.
Options for Shareholders
Alongside the term extension and the dividend rate increase, TDb Split Corp. is introducing an additional retraction right. This allows shareholders who may wish to exit their investment to tender one or both classes of shares. The retraction price will correspond to the net asset value per unit, calculated as of November 29, 2024. Investors also have the choice to sell shares at market prices, which may exceed retraction prices, or simply maintain their investments.
Investment Focus
The company's investment strategy prominently features common shares of the Toronto-Dominion Bank, a leading institution in the Canadian banking sector. This alignment reflects TDb Split Corp.'s objective of maximizing returns while ensuring a secure investment landscape for shareholders.
Investor Relations and Contact Information
TDb Split Corp. encourages potential investors and stakeholders to engage directly for more insights. Interested parties can reach the investor relations team at 1-877-478-2372 or locally at 416-304-4443. Information about the company is also available on its official website, ensuring that all stakeholders have access to crucial updates and engagement opportunities.
Frequently Asked Questions
What is the new dividend rate for TDb Split Corp.?
The new dividend rate for Priority Equity Shares is 7.00%, up from the previous rate of 5.25%.
When will the new dividend rate take effect?
The increased dividend rate will be effective starting December 1, 2024.
What changes have been made regarding the fund's termination date?
The termination date has been extended by five years to December 1, 2029.
Can shareholders sell their shares after the rate increase?
Yes, shareholders may sell their shares at market prices, which could be advantageous.
What should investors know about the Toronto-Dominion Bank's role?
TDb Split Corp. invests in common shares of the Toronto-Dominion Bank, which plays a significant role in its investment strategy.
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