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Dividend 15 Split Corp T.DFN

Alternate Symbol(s):  DFNPF | T.DFN.PR.A | DVSPF

Financial Services Asset Management
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
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Post by AnEducatoron Feb 08, 2024 2:52pm
458 Views
Post# 35870669

NAV @ 2:48 pm

NAV @ 2:48 pm~$14.81. Premium on capital shares: ~$0.09.

We are currently ~1.35% below the payment threshold with at least a week to allow for the NAV to recover. Of course, Quadravest may choose to use an earlier date if we fail to get to the threshold before the next announcement, but I reckon it is extemely unlikely that they would choose the NAV on a date so many days before the mid-month update.
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