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Dividend Growth Split Corp.

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  • Closing Price (Jul 06, 2020) $3.00
  • Distribution(1) $0.10
  • Management Fee 0.6%
  • NAV (Jul 06, 2020) $3.14
  • Unit NAV (Jul 06, 2020) $13.19
  • Total Assets (Jun 30, 2020) $423 Million
  • Closing Price (Jul 06, 2020) $9.81
  • Distribution $0.1375
  • Distribution Rate (Jul 07, 2020) 5.61%
  • NAV (Jul 06, 2020) $10.05
  • Unit NAV (Jul 06, 2020) $13.19
  • Total Assets (Jun 30, 2020) $423 Million
  • DBRS Rating Pfd-4 (high)

Why Invest?

  • Large-cap portfolio of primarily Canadian equities with high dividend growth rates and high current yields
  • Dividend growth reflects company’s ability to grow earnings and strong underlying business fundamentals
  • Dividend growth companies have historically outperformed the broad index
  • Attractive distributions on Class A and Preferred Shares
  • Potential for capital appreciation for Class A shares due to leveraged exposure to Dividend Growth portfolio

Preferred Shares:

  • 5-year term, subject to extension for periods of up to five years, as determined by the board of directors
  • Quarterly cumulative preferred distributions (primarily eligible Canadian dividends)
  • Dividend resets at end-of-term extension, based on comparable market yields, without complicated reset formulas
  • Shareholder’s option to redeem at end-of-term, with no restrictions

Class A Shares:

  • Monthly distributions (primarily return of capital)(1)
  • Opportunity for capital appreciation
  • Shareholder’s option to redeem at end-of-term, with no restrictions

FUND FACTS

  • Ticker (Class A Shares)
    DGS
  • CUSIP (Class A Shares)
    25537Y104
  • Outstanding (Class A Shares) (Jul 07, 2020)
    32,336,582
  • Ticker (Preferred Shares)
    DGS.PR.A
  • CUSIP (Preferred Shares)
    25537Y203
  • Outstanding (Preferred Shares) (Jul 07, 2020)
    32,336,582
  • Maturity Date(2)
    September 27, 2024
  • Inception Date
    December 3, 2007
  • Currency
    Hedged to CAD
  • Manager/Portfolio Manager
    Brompton Funds Limited
  • Auditor
    PricewaterhouseCoopers LLP
  • Custodian
    CIBC Mellon Trust Company
  • Transfer Agent
    TSX Trust Company
  • Eligibility
    All registered and non-registered accounts
  • Quarterly Concurrent Retraction Date
    2nd last business day of February, May, August, November
  • Quarterly Retraction Notice Deadline
    10 business days prior to retraction date
  • Special Non-Concurrent Retraction Date
    September 27, 2024
  • Special Retraction Notice Deadline
    August 30, 2024

Manager/Portfolio Manager

Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with over $2 billion in assets under management. Brompton’s Portfolio Management team specializes in Canadian and global equity investments and is a leading manager of covered call writing strategies in Canada.

Dividend Growth Split Corp.

Summary of Investment Portfolio as at March 31, 2020

Total Net Asset Value$404,388,000.00

Top 25 Holdings

% of Portfolio% of Net Asset Value
Brompton Global Dividend Growth ETF10.7%10.7%
Canadian Pacific Railway Ltd5.2%5.2%
TC Energy Corp5.0%5.0%
Enbridge Inc4.7%4.7%
BCE Inc4.3%4.3%
Brookfield Infrastructure Partners L.P.4.3%4.3%
Open Text Corp4.3%4.3%
Canadian Apartment Properties Real Estate Investment Trust4.2%4.2%
National Bank of Canada4.2%4.2%
Royal Bank of Canada4.1%4.1%
Sun Life Financial Inc.4.0%4.0%
Manulife Financial Corp3.5%3.5%
Thomson Reuters Corp.3.2%3.2%
Algonquin Power & Utilities Corp3.2%3.2%
Fortis Inc2.8%2.8%
Loblaw Companies Ltd.2.6%2.6%
Canadian National Railway Co2.6%2.6%
Telus Corp2.4%2.4%
Rogers Communications Inc.2.3%2.3%
Brookfield Asset Management Inc.2.2%2.2%
Toronto-Dominion Bank2.0%2.0%
Bank of Nova Scotia2.0%2.0%
Empire Company Ltd.2.0%2.0%
Canadian Imperial Bank of Commerce1.9%1.9%
Canadian Natural Resources1.9%1.9%
Total89.6%89.6%
Performance NAV History

Annual Compound Returns(1)

YTD 1-Year 3-Year 5-Year 10-Year Since Inception(2)
Dividend Growth Split Corp. - Class A (39.4%) (30.9%) (11.5%) (1.7%) 8.3% 3.4%
S&P/TSX Composite Index (7.5%) (2.2%) 3.9% 4.4% 6.3% 4.1%
Dividend Growth Split Corp. - Preferred 2.8% 5.5% 5.4% 5.4% 5.4% 5.4%
S&P/TSX Preferred Share Index (11.2%) (7.2%) (4.0%) (0.9%) 0.9% 1.2%
Dividend Growth Split Corp. - Unit (11.4%) (5.7%) 0.3% 3.7% 7.3% 4.9%

Year-by-Year Returns

2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Dividend Growth Split Corp. - Class A 70.5% (41.3%) 18.8% 47.6% (20.3%) 14.2% 50.2% 26.3% (8.3%) 19.5%
S&P/TSX Composite Index 22.8% (8.9%) 9.1% 21.1% (8.3%) 10.6% 13.0% 7.2% (8.7%) 17.6%
Dividend Growth Split Corp. - Preferred 5.4% 5.4% 5.4% 5.4% 5.4% 5.4% 5.4% 5.4% 5.4% 5.4%
S&P/TSX Preferred Share Index 3.5% (7.9%) 13.6% 7.0% (14.9%) 6.8% (2.6%) 5.5% 5.8% 7.7%
Dividend Growth Split Corp. - Unit 22.4% (13.2%) 10.7% 20.1% (6.2%) 9.4% 22.9% 13.2% (0.5%) 11.4%

Returns for Dividend Growth Split Corp. are unaudited.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”).  If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning shares of an investment fund.  An investment fund must prepare disclosure documents that contain key information about the fund.  You can find more detailed information about the fund in the public filings available at www.sedar.com.  The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all distributions and does not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns.  Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

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Distributions

For the purposes of the Income Tax (Canada) and any similar provincial legislation, to the extent that distributions on either the Class A or Preferred shares are characterized as dividend payments, the Company designates any and all dividends paid on both its Class A and Preferred shares as “eligible dividends” unless the Company indicates otherwise.

The annual breakdown of distributions for tax purposes will be provided to shareholders annually in February. This information will also be posted on the website as soon as it is available.

DRIP Plan

Tax Allocation

The following information is applicable to holders who, for the purpose of the Income Tax Act (Canada), are resident in Canada and hold shares as capital property outside of an RRSP, RRIF, DPSP, RESP or TFSA. Shareholders should receive a T5 slip from their investment dealer providing this information.

T5 supplementary slips will indicate Capital Gains Dividends in Box 18 and Actual Amount of Eligible Dividends in Box 24. Dividend incomes is subject to the standard gross-up and federal dividend tax credit rules.

The return of capital component is a non-taxable amount that serves to reduce the adjusted cost base of the Fund units.

Select a year

Preferred Share

Record Date Payment Date Return of Capital Eligible Dividend Total Distribution
May 29, 2020 Jun 12, 2020 0.00000 0.00000 0.13750
Feb 28, 2020 Mar 13, 2020 0.00000 0.00000 0.13750
Nov 29, 2019 Dec 13, 2019 0.00509 0.12630 0.13139
Aug 30, 2019 Sep 16, 2019 0.00508 0.12617 0.13125
May 31, 2019 Jun 14, 2019 0.00508 0.12617 0.13125
Feb 28, 2019 Mar 14, 2019 0.00508 0.12617 0.13125
Nov 30, 2018 Dec 14, 2018 0.00000 0.13125 0.13125
Aug 31, 2018 Sep 17, 2018 0.00000 0.13125 0.13125
May 31, 2018 Jun 14, 2018 0.0000 0.13125 0.13125
Feb 28, 2018 Mar 14, 2018 0.00000 0.13125 0.13125
Nov 30, 2017 Dec 14, 2017 0.00000 0.13125 0.13125
Aug 31, 2017 Sep 15, 2017 0.00000 0.13125 0.13125
Total 0.02033 1.29231 1.58764
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