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Dividend 15 Split Corp II T.DF

Alternate Symbol(s):  T.DF.PR.A | DVDDF

Dividend 15 Split Corp. II is a mutual fund. The Company invests in a portfolio of 15 dividend-yielding, Canadian companies. It offers two types of shares, a Class A and Preferred. The investment objectives with respect to the Preferred shares are to provide holders of the Preferred shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04792 per Preferred share to yield 5.75% on the $10 repayment amount and to pay the holders $10 per Preferred share. The investment objectives with respect to the Class A shares are to provide holders of the Class A shares with regular monthly cash dividends targeted to be $0.10 per Class A share. The net asset value per unit must be above the required $15 per unit threshold in order for monthly dividends to be declared, and On or about the termination date, to pay the holders the original issue price ($15) of the Class A shares. The investment manager of the Company is Quadravest Capital Management Inc.


TSX:DF - Post by User

Post by AnEducatoron Jul 26, 2023 1:06pm
159 Views
Post# 35557963

important: Concurrent Annual Retraction

important: Concurrent Annual RetractionIf you are holding both DF and DF.PR.A, you can redeem both classes of shares for whatever the unit NAV happens to be at the close of August 31. This is known as the Annual Concurrent Retraction Right.

For most brokers, there is still time to purchase both classes of shares and then call your broker and redeem your shares. The deadline for giving instructions for many of the brokers is the morning of August 1st. You should however, make sure of the deadline set by your broker. Also, you may have to wait two days after any purchase for the shares to settle before your broker accepts your request.

Interestingly, both classes of shares are still trading below their NAV. The only risk I can see is that you are at the mercy of the markets, so the NAV could drop by the end of August.
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