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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Comment by navgodon Nov 02, 2020 8:36am

201 Views

Post# 31821877

RE:RE:RE:RE:ONE day does NOT make a trend

chessplayer wrote: But dfn is not trading at a low valuation as it is trading above nav. BNK is trading at a 10% discount to nav and pays. That is distrssed value

Don't totally disagree with your conclusion but point out two mitigating factors -- !) the pref trades at a 3.5% premium so the all important Unit value is only at a 3% discount and 2) the first retraction at full unit NAV is not until next November so there is no arb bid yet.

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