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

Dividend 15 Split Corp

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Post by petebrown1963on Mar 23, 2020 3:07pm

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Post# 30838792

Loaded up today

Bought 30,000 shares of this today at around 3.60 in stages.
I don't expect a dividend for a year. It's in my RRSP and when dividends eventually come, they will be tax-free and 33% yield on cost. Ludicrous.
And the share price will go back up to around 8 for a more than 100% gain I expect also. I don't care about that though, all I care about is the dividend.

Plan:
Take the 33% annual dividend and buy the Big 6 canadian banks with the payout. Eventually retire on the prcoeeds.

DFN has been on my "next recession" buy list for the past 4 years. My target purchase price was listed as "below 4". I think the market is going down another 15% or so from here, but I'm not even going to check the price of DFN. Not even put it on any of my watchlists, until the year 2021.

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