Commerce Split Corp Capital 2010-1.12.19
5.12
CAD
0.00
(0.00%)
Commerce Split Corp Capital 2010-1.12.19
TSX:YCM.PR.A
(Toronto Stock Exchange)
Recent
price
5.12
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Semi-annual Revenue
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in mil. unless spec.Semi-annual Earnings Per Share
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in mil. unless spec.Semi-annual Dividends Per Share
FRC
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in mil. unless spec.- Similar Companies
- Business
- New Commerce Split Corp. (YCM.TO) is a Canada-based closed-end split share corporation that invests primarily in common shares of Canadian Imperial Bank of Commerce (CM.TO). The corporation offers three classes of shares: Capital Shares (YCM), Class I Preferred Shares (YCM.PR.A), and Class II Preferred Shares (YCM.PR.B); Capital Shares provide holders with regular monthly dividends when the net asset value (NAV) per unit exceeds $15.00 and participation in all NAV growth above $10.00 per unit; Class I Preferred Shares deliver fixed cumulative preferential monthly cash dividends of $0.025 per share, yielding 6.00% per annum on the $5.00 repayment amount, with repayment targeted on or about December 1, 2029 (subject to five-year extensions); Class II Preferred Shares provide fixed cumulative preferential monthly cash dividends of $0.03125 per share, yielding 7.50% per annum on the $5.00 repayment amount, payable if and when NAV per unit exceeds $10.00, also with repayment on or about the 2029 termination date (subject to extensions). Incorporated in 2006 and headquartered at 200 Front Street West, Suite 2510, Toronto, Ontario, Canada, the corporation is managed by Quadravest Capital Management Inc. and operates within the Canadian investment funds industry, targeting income-seeking investors and those pursuing capital appreciation through exposure to a leading global financial institution. Formerly known as Commerce Split Fund, the corporation continues regular monthly distributions across its share classes, with recent declarations including $0.0500 per Capital Share and corresponding amounts for preferred shares payable in November 2025 and January 2026; as of October 15, 2025, NAV pre-distribution stood at $18.11 per unit, reflecting strong asset coverage and performance. The termination date remains set for December 1, 2029, with provisions for five-year extensions and potential enhancements to monthly distributions thereunder; no major acquisitions, partnerships, funding rounds, or strategic shifts have been reported in the last 1-2 years, underscoring a focus on stable operations and consistent income generation.