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 > Mouserman

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Comment by Clarke123on Oct 03, 2022 2:38pm

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Post# 35002184

RE:Mouserman

If you scroll back and see messages from last few weeks, quite a few of us highlighted the risk of DFN trading with way too much premium.

Lately the premium went in excess of 20%, and at times even over 25%. As such, if NAV drops below 15, the dividend is skipped, irrespective of where people are trading in market. I am surprised though that they think NAV is under 15. My calculations show much higher than 15, though the risk is missing dividend is always there, since the cushion is not that high these days. I stayed away from DFN for many weeks now, will only jump in when the price looks reasonable. It's too high right now.

By the way, even if dividend is skipped.. it's only for the split share. Preferred will continue to pay, though it seems that people are happy to dump both split and preferred at this point.

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