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 3:34pm

103 Views

Post# 30266231

RE:RE:RE:RE:Nature of Split Funds

I agree that the only way to really take advantage is to buy on the dips. The income DFN receives from the dividends and covered calls is never enough to pay out the distributions and so the fund has to continually sell off stocks that have appreciated to pay out the "A"'s thus overall reducing the NAV.

And the trading just before the halt was very fishy - a huge jump on volume on a relatively quite market day with no news is way out of the ordinary.

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