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Dividend 15 Split Corp T.DFN

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

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.


TSX:DFN - Post by User

Dividend 15 Split Corp
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Comment by JohnWalkeron Jun 03, 2020 8:57am
133 Views
Post# 31105553

RE:RE:NAV to May 29th

RE:RE:NAV to May 29th
commodity16 wrote:
Pretty sure it must be at or above $15 now. If the banks keep moving this should explode once investors realize nav is going to hold above $15 and start paying out the big fat monthly div again. Position now to maximize future yield before share price rockets up to $7-$8


Even back in February where markets were booming, DFN very rarely traded at more than a 5% premium to NAV. Now when markets are still tentative at best I don't think you will see DFN at $7-8. It would take a long time for DFN's portfolio to rise to that kind of NAV.

Assuming NAV is currently $5 for the A shares, I assume the best you would see on share price is $5.25 (the 5% premium I mentioned above). I already have my position in DFN (bought a total of 25K in the past month). A capital gain to $7 would be grand but that's not really what I'm looking for shorter term. I would be very happy to see dividend payments resume and collect my 25-27% yield.

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