Dividend 15 Split Corp. II: Announces Overnight Offering

Dividend 15 Split Corp. II (the "Company") is pleased to announce that it has
filed a preliminary short form prospectus in each of the provinces of Canada
with respect to an offering of Preferred Shares and Class A Shares of the
Company. The offering will be co-led by National Bank Financial Inc., CIBC, RBC
Capital Markets and will also include BMO Capital Markets, TD Securities Inc.,
GMP Securities L.P. and Canaccord Genuity Corp.


The Preferred Shares will be offered at a price of $10.00 per Preferred Share to
yield 5.25% on the issue price and the Class A Shares will be offered at a price
of $8.50 per Class A Share to yield 14.12% on the issue price. The closing price
on the TSX of each of the Preferred Shares and the Class A Shares on March 25,
2014 was $10.14 and $9.08, respectively.


The net proceeds of the secondary offering will be used by the Company to invest
in an actively managed portfolio of dividend-yielding common shares which
includes each of the 15 Canadian companies listed below:




Bank of Montreal          Enbridge Inc.            TELUS Corporation        
The Bank of Nova Scotia   Manulife Financial Corp. Thomson-Reuters          
                                                   Corporation              
BCE Inc.                  National Bank of Canada  The Toronto-Dominion Bank
Canadian Imperial Bank of Royal Bank of Canada     TransAlta Corporation    
Commerce                                                                    
CI Financial Corp.        Sun Life Financial Inc.  TransCanada Corporation  



The Company's investment objectives are:

Preferred Shares:



i.  to provide holders of the Preferred Shares with fixed, cumulative
    preferential monthly cash dividends in the amount of $0.04375 per
    Preferred Share to yield 5.25% per annum on the original issue price;
    and 
ii. on or about December 1, 2019, to pay the holders of the Preferred Shares
    the original issue price of those shares.



Class A Shares:



i.  to provide holders of the Class A Shares with regular monthly cash
    dividends initially targeted to be $0.10 per Class A; and 
ii. on or about December 1, 2019, to pay the holders of Class A Shares at
    least the original issue price of those shares.



The sales period of this overnight offering will end at 9:00 a.m. (Toronto time)
on March 27, 2014.


A preliminary short form prospectus containing important information relating to
the Preferred Shares and the Class A Shares has been filed with securities
commissions or similar authorities in all provinces of Canada. The preliminary
short form prospectus is still subject to completion or amendment. Copies of the
preliminary short form prospectus may be obtained from your registered financial
advisor using the contact information for such advisor, or from representatives
of the underwriters listed above. There will not be any sale or any acceptance
of an offer to buy the Preferred Shares or the Class A Shares until a receipt
for the final short form prospectus has been issued.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Dividend 15 Split Corp. II
Investor Relations
416-304-4443 otoll free at 1-877-4-Quadra (1-877-478-2372)
www.dividend15.com

Dividend 15 Split Corp II (TSX:DF)
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