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Dividend 15 Split Corp T.DFN

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

Post by AnEducatoron Apr 24, 2024 12:15am
246 Views
Post# 36004444

NAV April 23

NAV April 23~$15.05. I had to adjust Monday's closing NAV down to $15.01, as that is the value reported by Quadravest in their justification for declaring the dividend. 

There were a substantial number of shares short as of April 15, over 400,000 of them. which no doubt added to the surge in price the last couple of days. This does not necessarily mean the number of shorts has decreased, however, as there were likely plenty of new ones being added while others were covering.

The premium is likely to remain elevated at least until the ex-dividend date or unless the market begins to pull back. For now, the momentum has been powerful since the crisis in the middle east did not escalate as some feared last week.
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