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Dividend 15 Split Corp T.DFN

Alternate Symbol(s):  DFNPF | T.DFN.PR.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. It 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

Bullboard Posts
Post by wolverine99on Oct 09, 2018 12:19pm
613 Views
Post# 28766717

Quadravest Response

Quadravest ResponseFurther to my last post, here is the companies response to the current price decline and trading volume: The Class A shares typically trade off of yield and at a premium to their intrinsic value (net asset value less $10 for the preferred share) however the market will ultimately dictate the trading price. Most investors are long-term and adopt a buy/hold strategy for the monthly income therefore trading volumes are typically low. Because of this, the buying or selling of shares can have a greater impact on the market price. We understand your concern, however please be assured there was no news and there is no pending from the Company to warrant the recent heightened trading volume. There appears to be an increase in volume across many structured products. Also, there has been no material change to the overall value of the underlying holdings of the Company.
Bullboard Posts