PrefBlog

CIX Split Corp. has announced:

that it was precluded by the terms of the Class A Shares from declaring a dividend of $0.07 per Class A Share to holders of record as at November 15, 2008. According to the terms of the Class A Shares, a dividend cannot be paid thereon when the net asset value per unit (one Class A Share and one Priority Equity Share, together) is equal to or less than $15.00. As of the close of business on November 5, 2008, the net asset value per unit was $13.53. A distribution of $0.04167 per Priority Equity Share payable on November 30, 2008 to shareholders of record as at November 15, 2008 will still be paid.

The Corporation’s Priority Equity Shares and Class A Shares are listed on the Toronto Stock Exchange under the symbol CXC.PR.A and CXC respectively.

CXC.PR.A was last mentioned on PrefBlog amidst rumours of a takeover of CI Financial, shares of which are the split corporations only portfolio investment.

CXC.PR.A is not tracked by HIMIPref™.

This entry was posted on Thursday, November 6th, 2008 at 7:13 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.