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 April 15

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Post by AnEducatoron Apr 15, 2024 4:42pm

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Post# 35990287

NAV April 15

~$14.89. The premium has shrunk to ~$0.17 after today's market thrashing. We are below the payment threshold by ~0.75%.

I would expect Quadravest to wait till Wednesday's close at least before making any decisions regarding the dividend. I would not expect them to use today's traditional mid-month closing NAV in declaring distributions if DFN meets the threshold in the next two days.

That being said, the powerful negative sentiment currently prevailing suggests we will not make the cut by Wednesday's close, but one never knows.

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