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 August 1

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Post by AnEducatoron Aug 01, 2023 4:32pm

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Post# 35567630

NAV August 1

~$14.93. The unit NAV needs to rise by ~4.7% to meet the payment threshold. Given Quadravest's email response posted here over a week ago, the NAV may only need to close over $15.00 on any day between now and the next announcement in order for a dividend to be declared.

I'm sure preferred shareholders are jumping for joy upon this revelation!

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