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 Oct 20, 2022 6:56pm

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Post# 35037733

DFN unit NAV to OCT 20 = approx: $ 15.40

So DFN has now gained about 13 cents since the update to Oct 15.
Commons would have a real value of $5.40 and today closed at 7$
That is a premium of $1.60 or about 29.6%
Scary thing is DFN could be under 15$ by the time the monthend report comes out. After distributions are taken off , it is a possibility. Seems a big premium to pay for a split fund common with so little safety built in.

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