Dividend 15 Split Corp T.DFN

DFN unit nav tanking as general markets dive.

[mouserman]

Will be almost impossible for Quadravest to justify another distributions to commons for AUGUST... mas it looks a lot like DFN will finish down under $14.80 UNIT NAV if the market continues to correct here.. VERY red out there.  No where to hide really...

[flamingogold]

One can hide in FFN prefs (which I hold) paying 8% and daily money market (also own and ready to deploy on opportunity as it arises) pay +4.5% and likely to go higher if the BoC pulls the trigger on another 1/4 pt.

[mouserman]

Yes I am  mostly hiding in cash and preferreds at this time. Was lucky to get out of DGS at a profit, a few days ago. Have a little LBS left tho as I view the Canadian banks and lifecos as safer than the US counterparts. Outside of 70% in cash,  i am mostly  in FFN and FTN preferreds. I think FTN has slightly  more capital gain potential, but FFN pays a higher %.

[nadomow776]

DFN pref is 9.40s and redeemable next year

[flamingogold]

DFN prefs paying only 5.8% while FFN is 8%

[nadomow776]

The yield to maturity is much higher.   The NAV is 10 and redeemable next year

[flamingogold]

FFN prefs mature at the same price and same day as DFN. May be a wash though as the former pays out higher monthly distributions but the cap gain to maturirty is lower than DFN.

[nadomow776]

DFN pref, higher potential capital gain, higher unit NAV, more diversifed asset protection