Dividend 15 Split Corp T.DFN

Alternate Symbol(s): T.DFN.PR.A | DFNPF | 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 JULY 15 = approx: $16.03

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Post by mousermanon Jul 15, 2022 4:51pm

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Post# 34828073

DFN unit NAV to JULY 15 = approx: $16.03

So a bit of a pullback late in the day, (RBC in particular) dropped the NAV for commons back to $6.03.
However was a positive move up for most of the stock holdings in DFN.
Banks did NOT gain back what was lost in the previous 2 days, and may be awhile before they do.
Premium at the close of 6.80 , is 77 cents or approx: 12.7 %.... and not bad for a split fund common with a high yield. AT the $ 6.80 close today, the annual yield would be 17.96%....
Wont find a better value as far as premium to NAV amongst those paying over 15% yield annually.
There are safer ones, but much higher premium on the likes of FTN, BK and LBS.
Those are ALL financial banks/lifecos only.... DFN a much more diversified fund.

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