COMMERCE SPLIT Monthly Dividend Declared for Class I and Class II Preferred Shares

TORONTO, July 18, 2023 (GLOBE NEWSWIRE) -- New Commerce Split (The "Company") declares its monthly distribution of $0.02500 per share ($0.30 annually), for Class I Preferred shareholders (YCM.PR.A), and $0.03125 per share ($0.375 annually) for Class II Preferred shareholders (YCM.PR.B). The Class I Preferred share dividends are paid at an annual rate of 6.00% based on the $5 repayment amount. Class II Preferred share dividends are paid at an annual rate of 7.50% based on their $5 repayment amount. Distributions are payable August 10, 2023 to shareholders on record as at July 31, 2023.

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