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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

Dividend 15 Split Corp > revised UNIT NAV = $15.51
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Comment by mousermanon Aug 19, 2024 5:21pm
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Post# 36186745

RE:RE:RE:RE:RE:RE:RE:revised UNIT NAV = $15.51

RE:RE:RE:RE:RE:RE:RE:revised UNIT NAV = $15.51
Larry50 wrote: And what 'NAV' price is needed for the dividend to be approved for the coming month?  DFN has paid with share prices as low as $5.17 in recent months so it would appear yesterday's close at $5.24 is marginal at best, but Monday being the 19th I assume Quadravest could approve it for September based on current pricing and current NAV? 

Quadravest almost always uses the 15th of the month as the calculation date for paying to commons shares. The UNIT NAV is the important number, dont worry where the preferreds are as they always get a value of 10$. UNIT NAV must be at least equal to 15$ to pay to commons. We have seen Quadravest use earlier dates ( a few days max) and later days.
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