Overview
Canadian Large Cap Leaders Split Corp. (the “Company”) invests in an approximately equally-weighted portfolio comprised primarily of Equity Securities of Canadian Dividend Growth Companies.
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Selects Canadian Dividend Growth Companies
The Company selects Canadian Dividend Growth Companies that meet the following criteria at the time of investment:
- Are listed on a Canadian stock exchange
- Pay a dividend
- Generally have a market capitalization of at least $10 billion
- Have options in respect of its Equity Securities that, in the opinion of the Portfolio Manager, are sufficiently liquid to permit the Portfolio Manager to write options in respect of such securities
- Have a history of dividend growth or, in the
- Portfolio Manager’s view have high potential for future dividend growth
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Class A Shares:
- 10.0% targeted distribution yield* payable monthly ($1.50 p.a.)
- Provide holders with the opportunity for growth in the net asset value per Class A Share
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Preferred Shares:
- 7.5% targeted distribution yield*, payable quarterly ($0.75 p.a.)
- Initial 5-year term; redeemable at unitholder’s option on maturity
- Pfd-3 (high) rating by DBRS Limited
The Portfolio will be rebalanced and may be reconstituted at least annually by the Portfolio Manager but may be rebalanced and/or reconstituted more frequently at the discretion of the Portfolio Manager.
* If the total return on the Portfolio is less than the amount necessary to fund the targeted distributions for the Class A Shares and the Preferred Shares and all expenses of the Company, and if the Company chooses to nevertheless ensure that such distributions are paid to Shareholders, this will result in a portion of the distributions paid to Shareholders being a return of the capital of the Company back to Shareholders, and accordingly, NAV per Unit will be reduced. There can be no assurance that the Company will be able to pay distributions to the holders of Preferred Shares or Class A Shares.
Fund Objective
Class A Shares
The investment objectives for the Class A Shares are to provide their holders with regular monthly non-cumulative cash distributions targeted to be $0.125 per Class A Share representing a yield on the issue price of the Class A Shares of 10% per annum on the issue price of $15.00 per Class A Share and to provide holders with the opportunity for growth in the Net Asset Value per Class A Share.
Preferred Shares
The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential quarterly cash distributions in the amount of $0.1875 per Preferred Share ($0.75 per annum or 7.5% per annum on the issue price of $10.00 per Preferred Share) until February 28, 2029, subject to extension for successive terms of up to five years as determined by the Company’s Board of Directors (the “Maturity Date”), and to return the original issue price of $10.00 to holders on the Maturity Date.
Investment Team
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John Wilson, MBACo-CEO, Managing Partner, Senior Portfolio Manager
John Wilson, MBACo-CEO, Managing Partner, Senior Portfolio ManagerJohn Wilson is a founding principal, Co-CEO and Managing Partner of Ninepoint Partners. John oversees all aspects of the firm’s investment and research initiatives. Prior to Ninepoint’s formation, he was CEO, CO-CIO and Senior Portfolio Manager at Sprott Asset Management (SAM). Previous to SAM, he was Chief Investment Officer at Cumberland Private Wealth Management, founder and CEO of DDX Capital Partners, an alternative investment management firm; was Managing Director at RBC Capital Markets...View Full Bio -
Jeff Sayer, MBA, CFAVice President, Portfolio Manager
Jeff Sayer, MBA, CFAVice President, Portfolio ManagerJeffrey Sayer is Vice President, Portfolio Manager at Ninepoint Partners. Jeff oversees Global Equity, Infrastructure, and Real Estate investment strategies for the firm. Prior to Ninepoint’s formation, Jeff was with Sprott Asset Management (SAM), rounding out more than 20 years of investment management experience. Jeff received his MBA from the Schulich School of Business at York University and was awarded his CFA designation in 2004.View Full Bio -
Colin WatsonPortfolio Manager
Colin WatsonPortfolio ManagerColin Watson's background spans across equities, asset allocation & derivative-based strategies. Prior to Ninepoint Partners, Colin worked as a Portfolio Manager at IMCO on a team responsible for overseeing IMCO’s $26B public equity allocation and deploying derivatives-based strategies for IMCO’s public asset allocation strategy. Prior to IMCO, Colin worked at Ninepoint Partners on equity selection & options-based overlays. Colin holds a Bachelor of Commerce Degree from McMaster Unive...View Full Bio
