Dividend 15 Split Corp T.DFN

Quadravest extends DFN termination date

[mouserman]

SO what is coming is an increase in the preferreds rate. DFN has the lowest of the split funds i follow.
May make it a lot harder to stay above the 15$ threshhold.

In connection with the extension, the Company will have the right to amend the rate of cumulative preferential monthly dividends to be paid to the Preferred Shares for the five year renewal period, commencing December 1, 2024. Any change to the Preferred Share dividend rate for the extended term will be based on market yields for preferred shares with similar terms at such time and will be announced no later than September 30, 2024.

In connection with the term extension, the Company will offer a non-concurrent Special Retraction Right which will allow existing shareholders to tender one or both classes of Shares and receive a retraction price based on the November 29, 2024 net asset value per unit.

 

[Krokmiten]

What the special retraction offer is about ?

[AnEducator]

Shareholders have the right to tender their shares to the company for whatever the NAV happens to be at the close of November 29, 2024. Shareholders will need to call their broker before the deadline, which is probably sometime in October.  Note that shareholders may get a better price by selling on the open market instead of tendering their shares. It's often the safer option because of

[mouserman]

Very unlikely  that DFN holders will tender their shares. DFN seldom trades at a disount to NAV,  particularly when it is  barely above 15$ threshhold for paying. UNLIKE most of the split funds in the universe i follow.