Dividend 15 Split Corp T.DFN

Alternate Symbol(s): T.DFN.P.A | DVSPF

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 > Quadravest updated DFN to April 15 @ $14.90

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Comment by amugsgameon Apr 18, 2024 11:47am

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Post# 35996051

RE:RE:Quadravest updated DFN to April 15 @ $14.90

The prospectus does give some leeway on this declaring that the NAV will be calculated "mid-month but dividends will be "determined by the Board of Directors on the advice of Quadravest " So very loosely defined. They have waited as long as the 21st of a month to declare but that would mean the 22nd since the 21st is Sunday. Waiting to squeak by could also be determined to be prejudicial to the Prefs in removing capital from the fund.

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