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.

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Dividend 15 Split Corp > Another offering on preferred shares only

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Comment by chessplayeron Nov 24, 2020 12:51pm

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Post# 31961573

RE:RE:Another offering on preferred shares only

I suspect they sold Prefs to offset them selling commons at market as per their press release a few months ago,
https://03fd212c-7b45-4409-b290-698c20089de1.filesusr.com/ugd/78f11d_27f2b6127e70483eba8859a785117533.pdf

They took advantage of the market willing to buy capital shares at above market value to increase the sixe of the fund which is obviously beneficial to them as they make more money as the asset pools grow. The fact that they can sale shares from treasury in the market as they wish, will limit the capital gains on those as the premium over NAV.

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