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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

Comment by AnEducatoron Jun 04, 2024 10:25am
181 Views
Post# 36071025

RE:RE:RE:RE:DFN

RE:RE:RE:RE:DFNQuadravest theoretically cannot purchase the preferred shares in isolation because there are more capital shares outstanding than preferreds. This is why I always refer to repurchases in terms of units and not individual shares. An imbalance has existed in some form for a very long time. If anything, it makes more sense for Quadravest to sell the preferred shares rather than repurchase them.

mouserman wrote: I have not seen a recent opportunity for Quadravest to buy common shares of DFN at a discount.. ..however they may be buying the preferreds.. as their VALUE IS CONSTANT @10$.


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