DF Dividend 15 Split Corp II

Quadravest Capital Management Inc. (the “Manager’) is pleased to announce that Quadravest Preferred Split Share ETF (“Preferred ETF”) will commence trading on the Toronto Stock Exchange (the “TSX”) on June 27, 2024 under the symbol PREF. A final prospectus dated June 7, 2024 has been filed with the securities regulatory authorities in each province and territory in Canada.

The investment objectives of Preferred ETF are to provide unitholders with: (a) monthly distributions and (b) the opportunity for capital preservation, primarily through a portfolio of preferred shares of split share corporations.

Preferred ETF will seek to achieve its investment objectives by investing in an actively managed portfolio of split corp. preferred shares offered by Canadian split share corporations listed on a Canadian exchange. The Preferred ETF may also invest in preferred shares of other issuers, exchange-traded funds, other investment funds, equities or income-generating securities, and securities that are convertible into any of the above noted securities provided such investments are consistent with the Preferred ETF’s investment objectives.

The manager is pleased to announce the initial monthly distribution as follows:

Amount Per Unit:  $0.05417 CAD Record Date:        July 31, 2024Payment Date:     August 9, 2024

The monthly distribution per unit represents a total of $0.65 annualized based on the initial issue price of $10.00.   

Distributions, if any, on Units will be payable monthly by the Preferred ETF. The Preferred ETF expects targeted distributions to be $0.65 for the Preferred ETF’s first year of operation. However, the Preferred ETF does not have a fixed distribution amount. The amount of ordinary distributions, if any, will be set at the Manager’s sole discretion and may be based on the Manager’s assessment of the prevailing market conditions, the Preferred ETF’s ability to generate sufficient levels of distributable cash and any other factors that the Manager, in its discretion, may deem relevant. The date of any distribution of the Preferred ETF will be announced in advance by issuance of a press release. Subject to compliance with the investment objectives of the Preferred ETF, the Manager may, in its complete discretion, change the frequency of these distributions and any such change will be announced by issuance of a press release. In the event that the Preferred ETF expects its targeted distribution amount to change for any period subsequent to the Preferred ETF’s first year of operation, the Manager shall determine and announce such change by way of press release.

If the total return on the portfolio of the Preferred ETF is less than the amount necessary to fund the monthly distributions and all expenses of the Preferred ETF, and if the Manager chooses to nevertheless ensure that the monthly distributions are paid to Unitholders, this will result in a portion of the distributions paid to Unitholders being a return of the capital of the Preferred ETF back to Unitholders, and accordingly, the NAV per Unit will be reduced. The amount of monthly distributions may fluctuate from month to month and there can be no assurance that the Preferred ETF will make any distribution in any particular month or months. The amount of monthly distributions may vary if there are changes in any of the factors that affect the net cash flow on the portfolio of the Preferred ETF, including the assumptions noted above.

The Manager has assigned Preferred ETF a risk rating of “low”.

For further details, please refer to Preferred ETF’s Facts document available on www.sedarplus.com or on Preferred ETF’s home page at www.quadravest.com.

Founded in 1997, the Manager has a successful track record of creating and managing investment products with approximately $5 billion in assets under management, and proudly manages a portfolio of 13 publicly traded investment products including split share corporations and an investment trust.

Commissions, management fees and expenses all may be associated with exchange-traded fund investments. Please read the prospectus before investing. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated. Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the fund, to the future outlook of the fund and anticipated events or results and may include statements regarding the future financial performance of the fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

Investor Relations: 1-877-478-2372Local: 416-304-4443www.quadravest.com info@quadravest.com