Dividend 15 Split Corp II T.DF.PR.A

Primary Symbol: T.DF Alternate Symbol(s): DVDDF

Dividend 15 Split Corp. II is a mutual fund. The Company invests in a portfolio of 15 dividend-yielding, Canadian companies. It offers two types of shares, a Class A and Preferred. The investment objectives with respect to the Preferred shares are to provide holders of the Preferred shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04792 per Preferred share to yield 5.75% on the $10 repayment amount and to pay the holders $10 per Preferred share. The investment objectives with respect to the Class A shares are to provide holders of the Class A shares with regular monthly cash dividends targeted to be $0.10 per Class A share. The net asset value per unit must be above the required $15 per unit threshold in order for monthly dividends to be declared, and On or about the termination date, to pay the holders the original issue price ($15) of the Class A shares. The investment manager of the Company is Quadravest Capital Management Inc.

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Dividend 15 Split Corp II > Termination Extension Announcement

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Comment by flamingogoldon Sep 18, 2024 9:27am

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Post# 36228716

RE:RE:Termination Extension Announcement

We're suppose to get an announcement by Sept 30 regarding the prefs. Even though competitive funds have prefs at higher yields, does anyone think the prefs here will still get a boost now that market rates are on the decline?

"Any change to the Preferred Share dividend rate for the extended term will be based on market yields for preferred shares with similar terms at such time and will be announced no later than September 30, 2024"

https://www.quadravest.com/_files/ugd/78f11d_10a2be706281440d9e4fa448c7842ab7.pdf

AnEducator wrote: Hi Morrissan,

1. The preferred share dividend is likely to rise to at least 7% given the current interest rate climate. This will have a slightly detrimental effect on the Class A Shares on a monthly basis since more of the NAV will be paid out to preferreds.

2. The NAV will depend upon the performance of the portfolio from now till November 29th. The redemption date is still very far away, and there's so much that can happen.

Morrisan wrote: As followers of DF, can someone help me understand yesterday's announcement, specifically:

1) a possible change in pref shares dividend. If that were to go up, class A would be affected?

2) the special retraction right offering price based on Nov 29 NAV. What would that look like?