Dividend Growth Split Corp. Announces Distribution Rates

TORONTO, ONTARIO--(Marketwired - Sept. 23, 2014) - Dividend Growth Split Corp. (TSX:DGS)(TSX:DGS.PR.A) (the "Fund") announced today that the distribution rate for the Preferred Shares for the 5 year term from December 1, 2014 to November 28, 2019 will be $0.525 per annum (5.25% on the original issue price of $10) payable quarterly. This rate is unchanged from the rate for the previous term. The Preferred Share distribution rate is based on current market rates for preferred shares with similar terms. In addition, the Fund intends to maintain the targeted monthly Class A Share distribution at $0.10 per Class A Share.

The Fund previously announced on October 1, 2013 the extension of the term of the Class A Shares and the Preferred Shares to November 28, 2019 from November 30, 2014. The extension allows shareholders to continue to enjoy the benefit of the Funds' portfolio of common shares of high quality, large capitalization companies, which have among the highest dividend growth rates of those companies included in the S&P/TSX Composite Index. Currently, the portfolio consists of common shares of the following 20 companies:

Great-West Lifeco Inc.		The Bank of Nova Scotia		AGF Management Limited		Shaw Communications Inc.
Industrial Alliance Insurance and Financial Services Inc.		Canadian Imperial Bank of Commerce		IGM Financial Inc.		TELUS Corporation
Manulife Financial Corporation		National Bank of Canada		Power Corporation of Canada		Canadian Utilities Limited
Sun Life Financial Inc.		Royal Bank of Canada		Manitoba Telecom Services Limited		Enbridge Inc.
Bank of Montreal		The Toronto-Dominion Bank		Rogers Communications Inc.		TransCanada Corporation

In connection with the extension, shareholders who do not wish to continue their investment in the Fund, may retract their Preferred Shares or Class A Shares on November 28, 2014 pursuant to a special retraction right and receive a retraction price that is calculated in the same way that such price would be calculated if the Fund were to terminate on November 30, 2014. Notice must be given by November 14, 2014 at 5:00 p.m. (Toronto time) in order to exercise this right.