Bullboard - Stock Discussion Forum 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... see more

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TSX:DFN - Post Discussion

Dividend 15 Split Corp > DFN commons bid up as UNIT NAV approaches sub 16$ level...

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Post by mouserman on Feb 22, 2023 10:45am

DFN commons bid up as UNIT NAV approaches sub 16$ level...

So spreadsheet now has DFN losing 23 cents before distributions.
SO UNIT NAV would be $16.05 BEFORE distributions.
After distributions it would be $15.91
So commons now would have a value of $5.91 after distributions. Premium is now nearly 2$ and works out to about 32.8% premium after distributions are dished out.

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Comment by flamingogold on Feb 22, 2023 9:05pm

We could have some mayhem leading in to March up to the next FED meeting. DFN seems to defy gravity. If it doesn't start to let some air out from its balloon, that +30% premium will look cheap by comparison.

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Comment by mouserman on Feb 23, 2023 12:11pm

Really surprised they have done an offering at these high premiums. Maybe its a hard sell with so many investors anxious about the possibility of a REAL big lengthy correction in the markets. I know i would NOT be interested in overpaying 30% for an equal chance at going down rather than up. DFN only needs fall just over a dollar to hit the threshhold for NOT paying to commons..

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Comment by EricsPicks on Feb 26, 2023 7:19pm

In reality, how many times has DFN approached the 15 dollar mark? I am having a hard time wrapping my head around the fact that it has continued to payout month after mouth and year after year. Is the balloon going to burst at some point? You would think. On the other hand, I do understand the premium based on passed payments. For those just out to get a monthly dividend, it is not a ...more

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Comment by EdPaquette on Feb 26, 2023 7:52pm

A 10% drop in nav would mean no more payments, so it's more risky than it looks judging by past payments.

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Comment by mouserman on Feb 27, 2023 9:09am

DFN missed 4 times paying to commons in 2020, so they are NOT bulletproof, like some are suggesting. BK only missed once in 2020, and they actually had the required 15$ threshhold level when Quadravest suspended it anyways, due to the pandemic fears.

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Comment by pennydredful on Feb 27, 2023 11:45am

They are selling all the time through the ATM so no need for a formal offering . To offset they sell blocks of the DNF.pr.a thru National Bank Financial . Youir post ...more

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Comment by mouserman on Feb 28, 2023 8:21am

DFN last offering in September was done while the ATM PROGRAM WAS RUNNING. Sold more than twice as many preferreds in the offering to level up the number of shares . Preferreds and commons are supposed to be kept at close to an even number of shares . Dividend 15 Split Corp Symbol DFN Shares Issued 98,721,552 ...more

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Dividend 15 Split Corp