Dividend 15 Split Corp T.DFN

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

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 > ANother offering for DFN i see.

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Comment by dileas48son Apr 27, 2021 4:56pm

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Post# 33076730

RE:RE:RE:RE:ANother offering for DFN i see.

Thank you. This makes sense. They cannot modify the NAV by issuing more of one side of the shares versus the other, but I agree how they go about offering them is a different matter.

slst wrote:
I think there is a missunderstanding on the ATM program. It does NOT mean the company can sell its shares in the Market everyday!

It means that a large investor or brokerage house can offer a financing "at the Market Price" and the company can skip the detailed and costly filing of an Offering Memorandum document that is normally required.

That is why when they anounced it, they declared the trading prices the day before that was closer to the 8.15 price for A and 10.15 for preferreds.

They only time there is a difference between the preferreds and commons is when they offer a retraction and more of one is offerred than the other type of shares.