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 > NAV OCT 11

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Comment by mousermanon Oct 12, 2022 11:31pm

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Post# 35021374

RE:RE:NAV OCT 11

I have been doing up the spreadsheets for more than a few years now, for these split funds. Quadravest always uses 10$ as the preferred part of the NAV, no matter where the preferreds are trading. 15th is a Saturday, so RBC nexia will use the 14th as the date to calculate the NAVs.
They generally put out the mid month report a few days after the 15th.

winterishere wrote: RBC should update the NAV on the 15th. The question is whether to subtract the current share price of the preferreds from the NAV or $10 which is what the preferreds will ultimately get as the NAV decreases and the preferreds get paid out first when liquidation occurs. I might be wrong but that's what I gleaned from the prospectus.

Golferman wrote:
Any one have a NAV for Oct 11..... DFN has got to be getting close.... and when do they calculate for the dividend.