Dividend 15 Split Corp (TSX:DFN)

Consumer

Dividend 15 Split Corp is a publicly listed mutual fund that invests in dividend yielding common stocks of Canadian firms.

The company claims to offer monthly cash dividends to shareholders and investors.

Dividend 15 Split Corp operates a single portfolio of split share fund, representing two types of stocks, namely:
• Class A shares: TSX: DFN
• Preferred shares: TSX: DFN.PR.A

Preferred Shares

The company claims that its investment objective is to provide $0.04583 per preferred share as fixed cumulative preferential distribution paid every month monthly cash with annual yield of 5.50 per cent.

In addition, it claims that the preferred shareholders do not usually expect losses or gains but eyes for their initial investment upon termination, if any. It is a fixed monthly dividend that offer competitive yield along with strong downside protection and asset coverage, the mutual fund corporation claims.

Class A Shares

Dividend 15 reportedly provides regular cash dividends under this category of shares. Unlike preferred shares, Class A shares do receive all gains or losses on the entire portfolio, the company claims. In addition, like mutual fund or equity investors, the Class A shareholders’ return is dependent on the performance of the underlying portfolio at the time of termination, Dividend 15 claims.

Class A shares offer targeted monthly cash dividends and provide high-quality stocks.

As of May 31, 2021, the company’s top holding consists of a portfolio of 15 publicly traded Canadian companies:

• Banking Firms: CIBC, Royal Bank of Canada, TD Bank, Bank of Nova Scotia, National Bank of Canada, etc.

• Financial companies: Sun Life Financial Inc, Manulife Financial Corp and CI Financial Corp.


• Energy firms: TC Energy and Enbridge Inc.

• Telecommunication/Communication/Media: BCE Inc, Thomson Reuters Corp and TELUS Corp.

On 30 April 2021, the company completed an overnight offering of Preferred Shares and Class A Shares.

The company offered Class A share at a rate of $8.15 per share to yield a 14.7 per cent, while each preferred share was offered for $10.10 with 5.4 per cent yield. National Bank Financial Inc led the overnight offering on behalf of the firm.

The company said that it will use the net proceeds of the offerings to invest in an extensive and high-quality portfolio representing 15 dividend yielding Canadian firms.

The publicly listed mutual fund company is managed by Quadravest Capital Management Inc. The investment management firm was established in 1997 to manage and create enhanced yield products.

Presently, the portfolio comprises 13 TSX-listed investment products, including an investment trust and several split corporations like Dividend 15.

Contact Information

company address "200 Front Street West Suite 2510, P.O. Box 51 Toronto, Ontario M5V 3K2"

company phone1-877-478-2372

company email[email protected]

company websitehttps://www.quadravest.com

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