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 question

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Comment by mousermanon Jun 25, 2021 12:11am

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Post# 33449117

RE:RE:DFN question

Well , capital gains are what pay the commons shares, and dividends collected from the stocks in the portfolio basically are enough to pay the preferreds.
HOWEVER, DFN is likely the biggest split fund out there by market cap. And they have done many offerings ( raise of capital to invest more $$ into the same names ) near market highs, and these help to maintain the payouts. DFN has a very good record of payouts over the years... but in reality has lost some valuation as far as the price per common share. But if you have held this longer than 10 years , YOU HAVE DONE REALLY WELL.

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