{"id":464544,"date":"2021-03-24T16:04:23","date_gmt":"2021-03-24T20:04:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=464544"},"modified":"2021-03-24T16:04:23","modified_gmt":"2021-03-24T20:04:23","slug":"s-split-corp-announces-year-end-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/s-split-corp-announces-year-end-results\/","title":{"rendered":"S Split Corp. Announces Year End Results"},"content":{"rendered":"
\n

TORONTO, March 24, 2021 (GLOBE NEWSWIRE) — (TSX: SBN; SBN.PR.A)<\/strong> S Split Corp. (the \u201cFund\u201d) announces results of operations for the year ended December 31, 2020. Decrease in net assets attributable to holders of Class A shares amounted to $1.42 million or $1.60 per Class A share. As at December 31, 2020, net assets attributable to holders of Class A shares were $3.89 million or $4.73 per Class A share. Cash distributions to Preferred shareholders totaling $0.46 million or $0.53 per Preferred share were paid during the year.\u00a0\u00a0<\/p>\n

The investment objectives for the Class A shares are: (i) to provide holders of Class A shares with monthly cash distributions targeted to be 6.00% per annum on the net asset value (\u201cNAV\u201d) of the Class A shares; and (ii) to provide holders of Class A shares with the opportunity for leveraged growth in NAV and distributions per Class A share.<\/p>\n

The investment objectives for the Preferred shares are: (i) to provide holders of Preferred shares with fixed cumulative preferential monthly cash distributions in the amount of $0.04375 per Preferred share ($0.525 per year) representing a yield on the issue price of the Preferred shares of 5.25% per annum; and (ii) to return the issue price of $10.00 per Preferred share to holders of Preferred shares upon termination of the Fund.<\/p>\n

The Fund invests in The Bank of Nova Scotia (\u201cBNS\u201d) shares.<\/p>\n

The Fund employs a proprietary investment strategy, Strathbridge Selective Overwriting (SSO), to enhance the income generated by the BNS shares and to reduce volatility.<\/p>\n

The Fund\u2019s investment portfolio is managed by its investment manager, Strathbridge Asset Management Inc. The Fund\u2019s Preferred and Class A shares are listed on Toronto Stock Exchange under the symbols SBN.PR.A <\/strong>and SBN <\/strong>respectively.<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Selected Financial Information: ($ Millions)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Statement of Financial Position as at December 31st<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\n
\n 2020<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
Assets<\/td>\n$<\/td>\n12.16<\/td>\n\u00a0<\/td>\n<\/tr>\n
Liabilities (including Redeemable Preferred Securities)<\/td>\n\u00a0<\/td>\n(8.27<\/td>\n)<\/td>\n<\/tr>\n
Net Assets Attributable to Holders of Class A Shares<\/td>\n\n $<\/strong>\n <\/td>\n\n 3.89<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Statement of Comprehensive Income for the year ended December 31st<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss (including Net Loss on Investments)<\/td>\n$<\/td>\n(0.55<\/td>\n)<\/td>\n<\/tr>\n
Expenses<\/td>\n\u00a0<\/td>\n(0.41<\/td>\n)<\/td>\n<\/tr>\n
Operating Loss<\/td>\n\u00a0<\/td>\n(0.96<\/td>\n)<\/td>\n<\/tr>\n
Preferred Share Distributions<\/td>\n\u00a0<\/td>\n(0.46<\/td>\n)<\/td>\n<\/tr>\n
Decrease in Net Assets Attributable to Holders of Class A Shares<\/td>\n\n $<\/strong>\n <\/td>\n\n (1.42<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com<\/a>.<\/u><\/p>\n\n\n
John Germain, Senior Vice-President & CFO<\/td>\n\n Strathbridge Asset Management Inc.<\/strong>
\n
121 King Street West
Suite 2600
Toronto, Ontario, M5H 3T9
416.681.3966; 1.800.725.7172
www.strathbridge.com<\/a>
info@strathbridge.com<\/a><\/td>\n<\/tr>\n<\/table>\n

\n Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.<\/em>
\n \n <\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

TORONTO, March 24, 2021 (GLOBE NEWSWIRE) — (TSX: SBN; SBN.PR.A) S Split Corp. (the \u201cFund\u201d) announces results of operations for the year ended December 31, 2020. Decrease in net assets attributable to holders of Class A shares amounted to $1.42 million or $1.60 per Class A share. As at December 31, 2020, net assets attributable to holders of Class A shares were $3.89 million or $4.73 per Class A share. Cash distributions to Preferred shareholders totaling $0.46 million or $0.53 per Preferred share were paid during the year.\u00a0\u00a0 The investment objectives for the Class A shares are: (i) to provide holders of Class A shares with monthly cash distributions targeted to be 6.00% per annum on the net asset value … <\/p>\n

Continue reading “S Split Corp. Announces Year End Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-464544","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nS Split Corp. Announces Year End Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/s-split-corp-announces-year-end-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S Split Corp. 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