New Commerce Split (the “Company”) has recently declared its monthly distribution for Class I Preferred shareholders (YCM.PR.A) and Class II Preferred shareholders (YCM.PR.B). The distribution will amount to $0.02500 per share ($0.30 annually) for Class I Preferred shareholders and $0.03125 per share ($0.375 annually) for Class II Preferred shareholders.
The Class I Preferred share dividends are paid at an annual rate of 6.00% based on the $5 repayment amount, while Class II Preferred share dividends are paid at an annual rate of 7.50% based on their $5 repayment amount.
Shareholders on record as of November 30, 2023, will receive these distributions, which are set to be payable on December 8, 2023.
As an investment company, New Commerce Split focuses on investing in the common shares of Canadian Imperial Bank of Commerce (CIBC), a prominent Canadian financial institution.
If you have any questions or require more information regarding this distribution announcement, please reach out to the Company’s Investor Relations team at 1-877-478-2372 or locally at 416-304-4443. Alternatively, you can also visit their website at www.commercesplit.com or email them at [email protected].
FAQs
1. What is the distribution amount for Class I Preferred shareholders?
The distribution amount for Class I Preferred shareholders is $0.02500 per share ($0.30 annually).
2. What is the distribution amount for Class II Preferred shareholders?
The distribution amount for Class II Preferred shareholders is $0.03125 per share ($0.375 annually).
3. How are the dividend rates calculated?
The dividend rates for Class I Preferred shares are based on an annual rate of 6.00% of the $5 repayment amount. For Class II Preferred shares, the dividend rates are based on an annual rate of 7.50% of their $5 repayment amount.
4. When will the distributions be payable?
The distributions will be payable on December 8, 2023.
5. How can I get more information?
If you have further questions or need additional information, please contact New Commerce Split’s Investor Relations team at 1-877-478-2372 or 416-304-4443. You can also visit their website at www.commercesplit.com or send an email to [email protected].