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 as of December 15 reported by Quadravest

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Post by AnEducatoron Dec 19, 2023 8:50pm

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Post# 35792927

NAV as of December 15 reported by Quadravest

Unbelievable. The NAV is reported as being $14.80 as of December 15, well below the payment threshold. It was reported as $15.09 the day before, allowing for a distribution announcement. How the NAV dropped by $0.29 in one day I cannot say, unless they initially reported without accounting for dividend payments.

Oh well, our spreasheets will need to be adjusted significantly and the NAV will be lower than anticipated. The margin for error will probably be higher until the next report.

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