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 > DFN unit nav to Nov 11 = approx; $16.68

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Comment by jicoopon Nov 11, 2024 4:39pm

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Post# 36307240

RE:DFN unit nav to Nov 11 = approx; $16.68

So to dickey01 point , the discount must have grown today. Top 5 holdings from the DFN quadravest website shows :

Royal Bank of Canada

Canadian Imperial Bank of Commerce

Manulife Financial Corp

Sun Life Financial Inc

TC Energy Corp

Now here are the gains today for all 5 in order :
RY.TO 172.78

+0.74

(+0.43%)
CM.TO

89.81

+0.26

(+0.29%)
MFC.TO

45.11

+0.87

(+1.97%)
SLF.TO

82.96

+0.50

(+0.61%)
TRP.TO

69.10

+1.28

(+1.89%)

I share in the frustration and am puzzled. It seems like there were a lot of iceberg like orders on the sell side capping the upside today, like FTN , FFN as well.

mouserman wrote: Showing a gain of 46 cents now since the full update to OCt 31... last sale at $6.30 means the discount is 38 cents or about 5.6 %. There are several split funds with commons much more discounted than DFN, including DF which carries a higher NAV and bigger discount with the same stocks. FFN , FTN, LBS , and LFE all also have bigger discounts and more safety.

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