Dividend 15 Split Corp II T.DF

Alternate Symbol(s): T.DF.PR.A | DVDDF

Financial Services Asset Management

Dividend 15 Split Corp. II is a mutual fund. The Company invests in a portfolio of 15 dividend-yielding, Canadian companies. It offers two types of shares, a Class A and Preferred. The investment objectives with respect to the Preferred shares are to provide holders of the Preferred shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04792 per Preferred share to yield 5.75% on the $10 repayment amount and to pay the holders $10 per Preferred share. The investment objectives with respect to the Class A shares are to provide holders of the Class A shares with regular monthly cash dividends targeted to be $0.10 per Class A share. The net asset value per unit must be above the required $15 per unit threshold in order for monthly dividends to be declared, and On or about the termination date, to pay the holders the original issue price ($15) of the Class A shares. The investment manager of the Company is Quadravest Capital Management Inc.

TSX:DF - Post by User

Dividend 15 Split Corp II > DF unit NAV to AUg 08 = approx: $14.43

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Comment by AnEducatoron Aug 09, 2022 12:57am

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Post# 34880683

RE:RE:DF unit NAV to AUg 08 = approx: $14.43

Given the massive run we've had in the markets, I would be extremely uncomfortable paying such a meaningful premium on any of the capital shares, especially those underwater. I perceive a distinct asymmetry to the downside. We shouldn't forget that Quadravest charges management fees on these units so there is minor erosion in the NAV even when the underlying portfolio remains stagnant. Just something to ponder over.

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