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.

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Dividend 15 Split Corp

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Post by mousermanon Aug 31, 2022 4:37pm

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Post# 34933662

DFN unit nav to AUG 31 = approx: $ 16.01

SO my spreadsheet is showing a loss of 72 cents and that leaves the commons with a value of about 6.01 BEFORE distributions. After distributions of 14 cents to commons and preferreds , the commons value would be $5.87 . SO exactly a 2 $ premium for a split fund with less than a dollar coverage for paying to commons. Only 2 weeks to go until the next midmonth update that Quadravest uses to determine which split funds will paying to common shares.
Premium today would be 34 % after distributions are paid. By far the most expensive split fund common of those i follow.

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