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 mousermanon Dec 17, 2020 10:41am

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Post# 32127755

DFN up big to open, but NAV is not

I suppose because Quadravest announced the distributions today, DFN got a nice bump up. I see some selling on FTN because of consolidation date, NAV dropping and the yield here is under 15%, so maybe some dumping it to buy DFN.
I thought maybe DFN had updated the NAV and was a surprise to the upside, but that is NOT the case.
So far 6 of the top 10 holdings are down.... really is no good reason to increase its premium to NAV.

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