Commerce Split: Monthly Dividend Declared for Class I Preferred Shares

New Commerce Split (The "Company") declares its regular monthly distribution of $0.02500 per share ($0.30 annually), for Class I Preferred shareholders (YCM.PR.A). The Class I Preferred share dividends are paid at an annual rate of 6.00% based on the $5 repayment amount. Distributions are payable May 8, 2020 to shareholders on record as at April 30, 2020.

Since the latter part of February 2020, financial markets have been extremely volatile in response to the developing COVID-19 pandemic and equity markets in particular have experienced significant declines. The investment portfolio of the Company has been subject to these market fluctuations and the net assets of the Company have been materially negatively impacted. The Company’s investment portfolio may continue to experience significant volatility as the situation evolves.

The Company invests in common shares of Canadian Imperial Bank of Commerce, a Canadian financial institution.

Distribution Details
Class I Preferred Share (YCM.PR.A)		$0.02500
Ex-Dividend Date:		April 29, 2020
Record Date:		April 30, 2020
Payable Date:		May 8, 2020

Investor Relations: 1-877-478-2372		Local: 416-304-4443		www.commercesplit.com		[e-mail]