A split share stock is a stock that was created to transform the risk and investment return of a group of shares of dividend-paying corporations into the risk and return of, most often, preferred shares. The Globe and Mail has a good post that explains split shares further.
Robert Lauzon on split share funds on BNN
Split shares vs Stock split
Don’t confuse Split Shares with Stock Split. A stock split is when a company decides to increase its number of shares by issuing new shares to current shareholders. Dollarama just completed a stock split yesterday.