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 Aug 08, 2022 4:52pm

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Post# 34879941

DFN unit NAV to AUg 08 = approx: $16.38

SO DFN has lost about 16 cents off the UNIT NAV to Aug 08, and that leaves the value of the commons at $6.38. With the last sale @ 7.50 the premium has grown to $1.12, or about 17.5%
Not the best deal amongst the split funds i watch, but still has been a very steady distribution payer over the years and getting a nice premium with not as much safety as others out there.
Perhaps a move is in the works to safer distribution payers, and maybe away from the risky ones, who are underwater and not paying lately.

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