Dividend 15 Split Corp T.DFN

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

TSX:DFN - Post by User

Dividend 15 Split Corp > DFN is Done

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Comment by flamingogoldon Apr 23, 2024 3:16pm

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Post# 36003812

RE:DFN is Done

Across Stockhouse I've witnessed posters who are glued to basically one stock. The BBD board is filled with them. But I've never seen a poster so focussed on just one split fund. Very odd. Gotta ask what's the beef here in particular with DFN since 2019?

Moneyman70 wrote:
We are seeing some real Shennanigans from Quadravest with this stock now. This is what happens when the fund is in its twilight years and they are tring to flog a dead horse. The more prudent path would be to NOT PAY if the NAV was so low on the 15th to conserve some cash but nooo, they gotta be playing games with the dates. This tells me that this is not a reliable situation or a responsibly run fund.

Factor in their ATM program and "overnight offerings" to keep the ponzie scheme afloat and it's obvious that DFN is not sustainable.

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