S Split Corp. reports half-year results

TORONTO, August 30, 2024 (GLOBE NEWSWIRE) — (TSX: SBN; SBN.PR.A) S Split Corp. reports results of operations for the six months ended June 30, 2024. Decrease in net assets attributable to holders of Class A common stock was $0.24 million, or $0.57 per Class A share. Net assets attributable to holders of Class A common stock at June 30, 2024 were $0.70 million, or $1.71 per Class A share. Cash distributions of $0.26 per preferred share were paid during the period.

The investment objectives for the Preferred Shares are: (i) to provide holders of Preferred Shares with fixed cumulative preferred monthly cash distributions of $0.04375 per Preferred Share ($0.525 per annum), representing a yield on the issue price of the Preferred Shares of 5.25% per annum; and (ii) to repay the issue price of $10.00 per Preferred Share to holders of Preferred Shares upon termination of the Fund.