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 Calculation happens on 15th of month or next open day

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Comment by ABP123on Apr 22, 2024 6:41pm

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Post# 36002282

RE:RE:RE:RE:RE:NAV Calculation happens on 15th of month or next open day

If you look back at the dates of the Dividend releases over the past year, most were between the 18th and 20th. September was the 21st.

On December 15th 2023 they actually declared dividends before the markets opened. This meant the Declaration was based on the close of Dec 14th 2023. This was rather fortuitous because the market tanked on December 15th and sent the NAV below $15.00 I suspect they had an idea what direction the market was going to go and got ahead of it so they could pay.

If they had to do the declarations based on the 15th as stated by some, then why haven't they released that info yet? They cleary want to pay, or those who hold shares are in for some other kind or surprise. If they don't make some sort of a Declaration tomorrow I will really start to wonder what is going on.

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