An anonymous director reports
CANADIAN LARGE CAP LEADERS SPLIT CORP. ANNOUNCES CLASS A SHARE SPLIT
Canadian Large Cap Leaders Split Corp. intends to effect a stock split of its Class A shares due to the company's strong performance. The share split remains subject to the final approval of the Toronto Stock Exchange.
Pursuant to the share split, Class A shareholders of record at the close of business on July 30, 2026, will receive 20 additional Class A shares for every 100 Class A shares held. Ex split trading of the Class A shares will commence at the opening of trading on July 30, 2026.
Since the company's inception on Feb. 22, 2024, the Class A shares have delivered a total return of 38.08 per cent per annum based on net asset value, outperforming the S&P/TSX Composite Total Return Index by 11 per cent per annum (1).
The share split will result in an overall increase in the dollar amount of distributions to be paid to Class A shareholders by approximately 20 per cent. The company provides a distribution reinvestment plan, on a commission-free basis, for Class A shareholders who wish to reinvest distributions and realize the benefits of compound growth.
Following the share split, the preferred shares of the company are expected to have downside protection from a decline in the value of the company's portfolio of approximately 63 per cent (2).
The company invests, on an approximately equally weighted basis, in a portfolio consisting primarily of equity securities of Canadian dividend growth companies (as defined below), selected by the portfolio manager, that at the time of investment and immediately following each periodic reconstitution and rebalancing: (i) are listed on a Canadian exchange; (ii) pay a dividend; (iii) generally have a market capitalization of at least $10-billion; (iv) 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; and (v) have a history of dividend growth or, in the portfolio manager's view, have high potential for future dividend growth.
About Ninepoint Partners LP
Ninepoint is the manager, portfolio manager and promoter of the company, and provides all administrative services required by the company. Based in Toronto, Ninepoint Partners is one of Canada's leading alternative investment management firms overseeing approximately $8.2-billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning equities, fixed income, alternative income, real assets, foreign exchange and digital assets.
(1)
See the standard performance data table attached.
(2)
Based on the NAV (net asset value) of the Class A shares used to determine the share split ratio.
We seek Safe Harbor.
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