OVERVIEW
CORE HOLDINGS
Dividend 15 Split Corp. is an investment corporation designed to pay monthly cash dividends. The corporation invests primarily in a portfolio of 15 dividend yielding, high quality Canadian companies.
Two types of shares are available, a Class A (DFN) and a Preferred (DFN.PR.A).
To view a Split Share Fund overview please click here.
Bank of Montreal
Bank of Nova Scotia
BCE Inc.
CI Financial Corp.
CIBC
Enbridge Inc.
Manulife Financial
National Bank of Canada
Royal Bank
Sun Life Financial
TELUS Corporation
Thomson Reuters Corporation
Toronto-Dominion Bank
TransAlta Corporation
TC Energy Corporation
Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time. Top holdings by weight may include holdings other than the core holdings as 15% of the net asset value may be invested in equity securities other than the core holdings (as per the Prospectus).
OBJECTIVES
SHARE HIGHLIGHTS
Preferred Shares:
(i) to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04583 per Preferred Share to yield 5.50% per annum on the original issue price; and
(ii) on or about the termination date of December 1, 2029 (subject to further 5 year extensions thereafter), to pay the holders of the Preferred Shares the original issue price of those shares.
Class A Shares:
(i) to provide holders of the Class A Shares with regular monthly cash dividends initially targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price; and
(ii) on or about the termination date of December 1, 2029 (subject to further 5 year extensions thereafter), to pay the holders of Class A Shares at least the original issue price of those shares.
​Preferred Shares:
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Fixed cumulative monthly dividends*
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Quality investments and diversification
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Strong downside protection and asset coverage
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Pfd-3 DBRS Rating - Apr 11/24
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Competitive Yield
Class A Shares:
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Monthly cash dividends*
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Quality investments and diversification
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Leverage to performance of high quality stocks
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Capital appreciation potential
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Attractive alternative to other income vehicle
*For the purposes of the Income Tax Act (Canada) and any similar provincial legislation, the Company designates any and all dividends paid on both its Class A and Preferred shares as “eligible dividends” unless the Company indicates otherwise.
TOP HOLDINGS
VALUATION
Holdings Sorted by weight as at March 28, 2024
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Royal Bank of Canada
Manulife Financial Corp
Bank of Montreal
Sun Life Financial Inc
Toronto-Dominion Bank
TC Energy Corp
Thomson Reuters Corp
Canadian Imperial Bank of Commerce
Suncor Energy Inc
BCE Inc
Bank of Nova Scotia
Enbridge Inc
National Bank of Canada
Telus Corp
Loblaw Companies Ltd
April 15, 2024
NAV Pre-Distribution: $14.90
Distribution: $0.00
NAV Net of Distribution: $14.90*
NAV + Total Distributions Paid to Date: $52.23
* $15.01 as at market close on Apr 22/24