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 > Eventual termination date of December 1, 2024. What happens?

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Comment by Sugareeon Jul 25, 2022 4:15pm

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Post# 34849238

RE:Eventual termination date of December 1, 2024. What happens?

Put it another way, if termination date was next week August 2, 2022, would DFN most likely be trading around NAV $6.32? Or am I way off on understanding how it would work on termination?

Thanks in advance to those in the know about these things and respond!

Sugaree wrote:
I see DFN currently trades at a premium to NAV:

Common NAV: 6.32, -0.01 (-0.19%). Premium: 1.20 (19.1%) for $7.52.

The termination date is December 1, 2024. What happens when this date approaches for these split funds? As this date approaches, will DFN eventually trade very close to the NAV at that date?