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.

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Dividend 15 Split Corp > Enormous Premium

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Post by AnEducatoron May 20, 2023 12:23pm

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Post# 35457789

Enormous Premium

Short selling DFN is immensely compelling, but then again, has been for several months. I have assumed a position as a hedge against my long positions, but knowing I will need to pay the $0.10 dividend, perhaps for several months, is quite discomforting.

As of April's update, the fund is holding 18% cash, so investors are willing to pay in excess of $1.36 for each of those dollar bills held in cash. LOL.

Has anyone here been holding short for a long time, and are you at all concerned?

I expect this fund to trend towards the likes of DGS, and end up paying only sporadically over the next few years.

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