Dividend 15 Split Corp T.DFN

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

Financial Services Asset Management

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

Dividend 15 Split Corp

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Comment by amugsgameon Oct 24, 2019 10:43am

112 Views

Post# 30264152

RE:RE:Offering

Am I missing something here? DFN works on a NAV basis of the underlying basket of stocks. The value of DFN A shares or any typical Split Fund "A" is the NAV - $10 + premium. There really is no dilution since if you have $1 mil or $10 mil spread over the same basket of stocks the return / div is the same %. Offerings generally knock the SP back a bit on any stock and pi$$ off shareholders but overall will have little bearing on the value going forward on a split fund. The reason the SP has fallen over the last number of months is the decline of the NAV not because of offerings.

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