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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.


TSX:DFN - Post by User

Dividend 15 Split Corp > DFN unit nav to May 7 = APPROX: 17.25
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Post by mousermanon May 07, 2021 6:42pm
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Post# 33157914

DFN unit nav to May 7 = APPROX: 17.25

DFN unit nav to May 7 = APPROX: 17.25so the last update showed 17.02 after distributions for the UNIT NAV to April 30
Not taking into account the ramifications of the last offering my updated spreadsheet had DFN gaining 23 cents from April 30 to MAY 7.
DFN commons would carry a value of 7.25 here.... so only trading at a premium of about 11%
, not surprising right after an offering. 
It is still  a higher premium than the likes of FFN which is yielding  right around 19% and has a UNIT NAV around $16.67. FFN premium today would be under 8% with the last trade at $7.18
LBS trades at a discount and  its UNIT NAV now above  19.38  , which is over 2 $ safer than DFN.
FTN also trades just below its  NAV and  its UNIT NAV way up at $21.45 last trade at 11.29
Yields
FFN @ 18.95%
DGS @ 18.26%
DFN@  14.93%
FTN @  13.36%
LBS @   13.26%
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