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 > unbelievable disconnect

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Comment by rabnudon Jun 09, 2023 2:44pm

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Post# 35488979

RE:RE:RE:unbelievable disconnect

Then iif its that bad why has it paid 10 cents a month for last 17 years?never missing

Justreality wrote: Rnub ...please just stay on the TNT HEXO SOT boardssolid (nice dividend cuts on TNT and SOT by the way)
Seeing your post gives me even more confidence in my short.

you ask ......What makes anyone think it wont keep paying?
I dont know maybe because the manager Quadravest has 4 or more closed end funds not paying.
FTN - US Financial 15 split hasnt paid since 2008
DF- almost identical portfolio to DFN hasnt paid since June 2022. Since 2018 DF has cut dvd (and reinstated) 5 times.
LCS- Canadian Life Split - has paid 2 dvd since May 2020

DFN is omitting the dvd in the next 3 4 month. It is inevitable - well unless the market keeps going up.
And even than that just pushes the cut out another few months. Cant keep on paying 16% with 20% of portfolio in cash getting 4%. Again what happens to stock price no idea. Just saying I like the risk/reward of shorting.