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?

<< Previous

Bullboard Posts

Next >>

Comment by mousermanon Jun 12, 2023 11:43am

147 Views

Post# 35491604

RE:Huge volume on DFN, ATM program working hard?

Actaully worded that wrong, the buyback recently announced may be repurchasing shares and cancelling them from total outstanding share count. THE ATM will be working to sell more PREFERREDs to help rebalancing... This imbalance was usually done with an offering in the past, where they sold more preferreds than commons in the financing. AND of course the commons share price always took a dive on the dilution factor and kept the premium in check.
In the current scenerio, the opposite happens, they are bumping up the premium on the commons, by buying lots at market from the treasury. AT a ridiculous premium. Only explanation for the volume and action today, as DFN UNIT NAV is dropping a few more pennies today, with 9 of the top 10 down at this point in the fund.

<< Previous

Bullboard Posts

Next >>

From now on, dynaCERT instead of Bitcoin or NVIDIA?