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.

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Dividend 15 Split Corp > NAV July 11

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Post by AnEducatoron Jul 11, 2023 4:22pm

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Post# 35536239

NAV July 11

~$14.86. The NAV needs to rise by less than 1% to get to $15.00, but clearly euphoric investors have finally seen the light and realize that a significant premium is completely unwarranted for a fund whose distributions have become questionable going forward.

This is not to say they will be unable to pay at all, just that they will no longer be as regular as they have been in the past. DGS is a great comparison.

I must admit, I did not see such a violent, precipitous decline with a distribution within reach. The volume of almost 4.3 million shares is absolutely astounding. I don't ever recall seeing it so high.

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