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Silver North Intersects 1.83 metres True Width of 1,088 g/t Silver, 3.90 g/t Gold (click to learn more)
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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 > New Press Release - Dividend 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid
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Comment by CrashLandingon May 25, 2023 8:04am
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Post# 35463257

RE:New Press Release - Dividend 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

RE:New Press Release - Dividend 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer BidHopefully this is not a prelude to suspending the dividends. 

If the market price is a premium to NAV, it doesn't really make sense to buy back shares.  If the dividend is going to be suspended, then it makes sense.

Is my thinking correct?  Why don't they just purchase the pref shares and convert this into a normal ETF, instead of a split corp?
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