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 > Annual concurrent retraction privilege

<< Previous

Bullboard Posts

Next >>

Comment by mousermanon Jul 19, 2024 5:38pm

181 Views

Post# 36140711

RE:Annual concurrent retraction privilege

jrinvestor99 wrote:

Been holding 4000 shares of DFN for a couple years now that I set up strictly for the dividend and I just recieved this letter from my investment group regarding "retraction privilege". There are 3 options, the third being self explanatory. The first 2 options are out of my realm when it comes to split share investing. Any help in this would be much appreciated...for reference my average share price is at $7.34 CAD
Cheers

DIVIDEND 15 SPLIT CORP CLASS A SHARES & PREFERRED SHARES - ANNUAL CONCURRENT RETRACTION PRIVILEGE

Instructions must be submitted under both events

Option 1: Annual Concurrent Retraction (Consent to Resale) (Tender equal amount of Class A Shares & Preferred Shares)
To receive an amount equal to the proceeds of the sale of such shares less any applicable commission. Such amount will not be less than the applicable Preferred Share Retraction Price or the Class A Share Retraction Price, as the case may be.

Option 2: Annual Concurrent Retraction (Withhold Consent) (Tender equal amount of Class A Shares & Preferred Shares)
To receive an amount equal to the Net Asset Value per Unit calculated as of the Retraction Date, less any related commissions and other costs (to a maximum of 1% of the Net Asset Value per Unit).

Option 99: Take No Action (Default)
Holder to retain security.

DIVIDEND 15 SPLIT CORP CLASS A SHARES & PREFERRED SHARES - ANNUAL CONCURRENT RETRACTION PRIVILEGE