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.

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Dividend 15 Split Corp

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Comment by amugsgameon Oct 24, 2019 3:43pm

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Post# 30266273

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

Moneyman70 wrote: "The payments are basically a return of initial capital"

Wrong, because this would indicate a Return of Capital and there is no Return of Capital from DFN.
Check their financial statements or look your T5.

Moneyman70 - I didn't mean the "return of capital" in the technical manner but rather that DFN has to constantly take advantage of the appreciation of stocks in the portfolio by selling them since the received dividends and income from covered calls don't provide enough to pay the distributions.

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