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 > NAV July 11

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Comment by Intellectualon Jul 11, 2023 10:45pm

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Post# 35536741

RE:RE:NAV July 11

The trading price of the shares is something altogether different from the NAV, which represents the true value of the units.

As of today's close, the true value of the units is $14.86, which comprises of $10.00 for the preferred shares and $4.86 for the capital shares. The trading prices, as you noted, are different from the true values. The preferreds are trading at a discount while the capital shares are trading at a premium.

Hope this helps.

DanRiffs7 wrote: Can you help me out how you get $14.86 ? Is the NAV not prefered + class A share prices?
$9.40 for the prefered amd $5.90 for class A = $15.30
What am I missing here if I may ask?

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