Dividend 15 Split Corp T.DFN

Alternate Symbol(s): DVSPF | T.DFN.PR.A | DFNPF

Dividend 15 Split Corp. is a Canada-based mutual fund, which invests primarily in a portfolio of dividend yielding common shares, which includes approximately 15 Canadian companies. The Company offers two types of shares, including Preferred shares and Class A shares. Its investment objectives with respect to Preferred Shares are to provide holders with fixed cumulative preferential monthly cash dividends in an amount of $0.04583 per Preferred share to yield 5.5% per annum on the $10 repayment amount and to return the $10 repayment amount to their holders on the termination date. Its investment objectives with respect to Class A Shares are to provide holders with regular monthly cash distribution targeted to be $0.10 per Class A share and return the original issue price to their holders on the termination date. The net asset value per unit must remain above the required $15 per unit threshold for distributions to be declared. Its investment manager is Quadravest Capital Management Inc.

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Dividend 15 Split Corp

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Post by Ahlavanthanon May 11, 2020 10:42am

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Post# 31011690

Dividend 15 Split Corp. Announces TSX Acceptance of Normal C

Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 5,331,492 Preferred Shares and 5,334,836 Class A Shares of the Company, representing 10% of the public float of 53,314,921 Preferred Shares and 53,348,363 Class A Shares. As of May 1, 2020, there were 53,504,552 Preferred Shares and 53,504,552 Class A Shares issued and outstanding. Subject to TSX temporary blanket relief, the Company will not purchase, in any given 30-day period, in the aggregate, more than 1,070,091 Preferred Shares or more than 1,070,091 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 1, 2020.

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