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TDb Split Plans a Class A Share Split, Offering 15 New Shares for Every 100 Held

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TDb Split (XTD.TO) after trade Thursday said it plans to complete a stock split of its class A shares, giving holders 15 new shares for every 100 held.

Following the split, the company will continue targeting a monthly cash distribution of C$0.05 per class A share, increasing total distributions by about 15% through the additional shares issued. Since inception, class A shareholders have received C$8.80 per share in cash distributions, the company said.

The class A shares are set to begin trading on an ex-split basis on July 24. No fractional shares will be issued, and the stock split is not a taxable event, the company added.

'The impact of the share split is expected to be reflected in the net asset value per unit as at July 31," the company said.

The company's shares closed down C$0.02, or 0.2%, to C$11.23 on the Toronto Stock Exchange.

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