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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 > DFN unit NAV to MAy 13 = approx: $17.13
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Post by mousermanon May 13, 2021 7:22pm
297 Views
Post# 33200554

DFN unit NAV to MAy 13 = approx: $17.13

DFN unit NAV to MAy 13 = approx: $17.13SO my spreadsheet has the UNIT NAV gaining about 10 cents since APRIL 30 update. 
Now i do believe the recent offering with more preferred shares will actually be a benefit to commons share value, so I will be conservative and add 5 cents onto the commons value.
SO at this point  commons estimated value would be $7.18 With the last trade at 8.07, the premium is about  12.4%... not high by historical standards, but maybe high compared to other splits that are trading at a discount with more safety built , and a much more robust % gain the past year...
I think DFN a buy, but some others look more attractive to me... and of course that depends on what part of the market you believe has the most upside in the near future.
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