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 August 1

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Comment by amugsgameon Aug 02, 2023 7:57am

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Post# 35568370

RE:NAV August 1

"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".

Your're right in the comment on the pref holders.Sure that wouldn't go over well. Quadravest wants to suck and blow at the same time with this kind of guideline. That policy does however give even more ammunition to people following this forum who short (me included) Quadravest will protect it's a$$ with a liberal interpretation of the $15 mark so there is that knowledge that if you have a short position, you'll probably be on the hook for the div payment even if the SP has only been over $15 for one day in the declaration period.

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