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

When you have a portfolio of securities that pay a high dividend, you create a split share to allocate the growth and the dividend of the company to two different securities.  One is a preferred and the other is a capital share.

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.