On August 26, 2024, Dividend Growth Split Corp. completed a $150 million equity offering, issuing up to $75 million in Preferred Shares and $75 million in Class A Shares. The shares were offered on the Toronto Stock Exchange (TSX) under the symbols “DGS.PR.A” and “DGS.”

The Company, a mutual fund corporation based in Ontario, invests in a diversified portfolio of Canadian and global dividend growth companies, managed by Brompton Funds Limited. The portfolio targets companies with a market capitalization of at least $2 billion and a history of or strong potential for dividend growth.

RBC Dominion Securities Inc. acted as the Agent, earning up to 2.5% of the gross sales price per share. The shares were distributed through “at-the-market” transactions on the TSX, with prices set by prevailing market conditions. The offering was subject to TSX approval, contingent on the Company meeting all listing requirements.

Osler, Hoskin & Harcourt LLP served as legal counsel to the Company, while Stikeman Elliott LLP advised the Agent. Legal opinions confirmed that the shares would qualify as a suitable investment under the Tax Act for various Registered Plans, assuming the Company met certain criteria.