Dividend Growth Split Corp. has released its Annual Report to December 31, 2012.
| DGS / DGS.PR.A Performance | |||
| Instrument | One Year |
Three Years |
|
| Whole Unit | +13.2% | +7.8% | |
| DGS.PR.A | +5.4% | +5.4% | |
| DGS | +26.3% | +11.4% | |
| S&P/TSX Composite Index | +7.2% | +4.8% | |
I think a dividend-tilting index would have been a more appropriate benchmark for this fund than the Composite, but we’ll let that go.
Figures of interest are:
MER: 1.06% of the whole unit value
Average Net Assets: The Net Asset Value at year end was $106.7-million, compared to $104.7-million a year prior, so call it an average of $105.7-million.
Underlying Portfolio Yield: Dividends and interest received of $4.77-million divided by average net assets of $105.7-million is 4.5%.
Income Coverage: Dividends and Securities Lending Income of $4.77-million less expenses of $1.11-million is $3.66-million, to cover preferred dividends of $3.35-million is 109%.