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 > Huge volume on DFN, ATM program working hard?

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Post by mousermanon Jun 12, 2023 11:00am

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Post# 35491505

Huge volume on DFN, ATM program working hard?

First hour and a half of trading and we see over 250 K shares traded. This appears be more volume than the other 5 Quadravest split fund commons combined... I would imagine the ATM program working hard at buying back commons to try and get the share count imbalance between preferreds and commons back to par. Fairly big volume on the preferreds so far too, but they are heading down and not up. SO DFN managers may be selling preferreds from the treasury to increase the count. AT super low prices I might add, last @ $ 9.39 , over 100 K traded on the DFN preferreds at this point.

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