Global Dividend Growth Split Corp. launches $200 million ATM offering

Company

Global Dividend Growth Split Corp.

Law Firm / Organization
Osler, Hoskin & Harcourt LLP

Bank

RBC Dominion Securities Inc.

Law Firm / Organization
Stikeman Elliott LLP

On November 14, 2024, Global Dividend Growth Split Corp. announced a $200 million at-the-market (ATM) equity offering, split equally between Preferred Shares and Class A Shares. The shares will be sold on the TSX at market prices, with the offering set to close on December 14, 2026, unless terminated earlier. The proceeds will support investments in large-cap global dividend growth equities, targeting steady dividends and capital growth.

RBC Dominion Securities Inc. acts as the sole agent, earning a 2.5% commission on sales. Legal advisors include Osler, Hoskin & Harcourt LLP for the Company and Stikeman Elliott LLP for RBC. The TSX has conditionally approved the listing.

As of November 13, 2024, Preferred Shares closed at $10.30, Class A Shares at $12.14, and NAV per unit was $21.84. Preferred Shares provide quarterly dividends, while Class A Shares focus on monthly distributions and growth. The offering reflects the Company’s strategy to enhance portfolio diversification and shareholder returns.

Public/Private Offering
Banking/Finance
$ 200,000,000
Active