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.

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Dividend 15 Split Corp > The power of being contrarian

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Comment by flamingogoldon Jul 11, 2024 12:09pm

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Post# 36128479

RE:RE:The power of being contrarian

Ya my comment was specific to DFN, not about the banks and which I own (FFN prefs, BK). Markets could very well pull back 5-10% any time and we'd still be ok... just a well needed correction. DFN, on the other hand, would not fare well in ANY correction now. That's why I say this one is a gamble now every month.

btw, I do recall seeing you on the BBD board. Nice to hear of another conviction story.

marcrobert wrote: "the storm here has yet to arrive" - i hope you're wrong. banks have been pummeled some below 2019 levels. I sounded the alarm and started selling when they were 40% above pre-covid levels for no good reason and started buying back heavily last fall, but the bottom of the pendulum should be pretty close, unless whole economy unravels. The mortgage reset is progressive, peaks next year then the provisions should come down to the bottom line, and if rates come down more it will drive more origination.

As for bbd, i own it, painful decade, in the profit zone... as usual i (and probably most shareholders) worry it will be able to sustain this level, and because the canadian options market is so inefficient, I am selling 2025 covered $100 calls (like yesterday, today even better) and if it sells off at earnings or for any other reason like it usually does, i'll buy back. I've done this several times, with 50% gain in a matter of a month or so...