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

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Post by AnEducatoron Oct 25, 2023 4:57pm

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Post# 35700954

NAV October 25

~$13.81. Discount on capital shares: ~$0.51.

The discount has finally expanded to more attractive levels with the increasing turmoil at every turn.

A looming recession is a near certainty and the financial sector will take the brunt of the hit as mortgages renew at ever higher rates and the number of delinquences begin to rise. The number of negative amortizations are at crazy levels right now while the Canadian real estate market remains as one of the most expensive on the planet.

We always seem to get out of every predicament, so I suppose the only question is how long it will take this time. The capacity to spend is limited and more deficit spending would have unintended consequences.

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