DIVIDEND 15 SPLIT CORP II T.DF

Alternate Symbol(s): T.DF.P.A | DVDDF

Dividend 15 Split Corp. II is an investment company, which invests in a portfolio of 15 dividend-yielding, Canadian companies. It offers two types of shares, a Class A and Preferred. The investment objectives with respect to the Class A shares are to provide holders of the Class A shares with regular monthly cash dividends. The net asset value per unit must be above the required $15 per unit threshold for monthly dividends to be declared; and on or about the termination date, to pay the holders of Class A shares at least the original issue price of those shares. The investment objectives with respect to the Preferred shares are to provide holders of the Preferred shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04792 on the $10 repayment amount per Preferred share to yield 5.75%, and to pay the holders of the Preferred shares the $10 repayment value of those shares. Quadravest Capital Management Inc. is the investment manager of the Fund.

TSX:DF - Post by User

DIVIDEND 15 SPLIT CORP II > DF unit nav to AUG 31 = approx: $14.19

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Comment by TickerTwiton Sep 03, 2022 9:40am

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Post# 34939929

RE:RE:RE:DF unit nav to AUG 31 = approx: $14.19

It's a simplified way of looking at it. If the market price of DF (3.97) is below its portion of NAV (4.19), then the market is assigning it a discount.

A non-simplified look recognizes that fair market value involves more than NAV. It also has to price in (1) the value of the structural leverage DF has on NAV and (2) the ongoing management expense paid to Quadravest.

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Sugaree wrote: Is it a discount because you take $14.19 - $10.00 = $4.19, so as stock is below at $3.97 it is a discount?

mouserman wrote: Quadravest updated navs again to AUG 31 and DF spreadsheet was exactly on the money again @ $14.19
Not much change since that update, and DF trading at a discount here.

mouserman wrote: My spreadsheet had DF losing 61 cents since the midmonth update. Leaves the commons with a value of $4.19 before distributions to preferreds.