04:57 PM EDT, 07/26/2024 (MT Newswires) -- Dividend Growth Split Corp. ( DDWWF ) announced Friday that the preferred share distribution rate for the next term from Sept. 28, 2024 to Aug. 30, 2029 will be $0.675 per Preferred Share per annum (6.75% on the par value of $10) payable quarterly.

This represents a pre-tax interest equivalent yield of 8.8% per annum.

The Preferred Share distribution rate is based on current market rates for preferred shares with similar terms.

The term extension offers preferred shareholders the opportunity to continue enjoying preferential cash dividends until Aug. 30, 2029. Over the past 10-year period to June 30, 2024, the Preferred Share has delivered a 5.5% per annum return.