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A high-quality portfolio consisting of North American Financial Services Companies
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TORONTO, June 16, 2026 (GLOBE NEWSWIRE) — Financial 15 Split Corp. (the “Company”) is pleased to announce it will undertake an offering of Preferred Shares (TSX: FTN.PR.A) of the Company. The offering will be led by National Bank Financial Inc.
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The sales period of this overnight offering will end at 8:30 a.m. EST on June 17, 2026. The offering is expected to close on or about June 24, 2026 and is subject to certain closing conditions including approval by the TSX.
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The Preferred Shares will be offered at a price of $10.78 per Preferred Share.
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The closing price on the TSX of the Preferred Shares on June 15, 2026 was $10.84.
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Since the inception of the Company, 270 consecutive dividends have been declared for the Preferred Shares. The aggregate dividends declared on the Preferred Shares total $13.26 per share. All distributions to date have been made in tax advantaged eligible Canadian dividends.
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The net proceeds of the offering will be used by the Company to invest in an actively managed, high-quality portfolio primarily consisting of financial services companies made up of Canadian and U.S. issuers as follows:
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| 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 Group Inc. |
| Royal Bank of Canada | Great-West Lifeco Inc. | JP Morgan Chase & Co. |
| The Toronto-Dominion Bank | Wells Fargo & Co. |
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The Company’s Preferred Share investment objectives are:
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- effective December 1 ,2025, to provide holders of the Preferred Shares with fixed, cumulative monthly dividends at an annual rate of 7.25%, as determined annually by the Board of Directors, and subject to a minimum rate of 6.00% until 2030; and
- on or about the termination date, currently December 1, 2030 (subject to further 5 year extensions thereafter), to pay the holders of the Preferred Shares $10.00 per Preferred Share.
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A prospectus supplement to the Company’s short form base shelf prospectus dated January 20, 2026 containing important detailed information about the Preferred Shares and the Class A Shares being offered will be filed with securities commissions or similar authorities in all provinces of Canada. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the agents listed above. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the Securities Commissions or similar authorities in each of the provinces and territories of Canada.
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For further information, please contact Financial 15 Split Corp. Investor Relations at 416-304-4443 Toll free at 1-877-4-Quadra (1-877-478-2372) or visit www.financial15.com
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English (US)