Dividend 15 Split Corp. II has released its Annual Report to November 30, 2013.
| DF / DF.PR.A Performance | |||
| Instrument | One Year |
Three Years |
Five Years |
| Whole Unit | +22.09% | +11.10% | +13.73% |
| DF.PR.A | +5.38% | +5.38% | +5.38% |
| DF | +56.13% | +21.48% | 29.46% |
| S&P/TSX 60 Index | +13.40% | +4.36% | +9.65% |
Using the S&P TSX 60 index rather than “Dividend Aristocrats” seems a little odd to me – but we’ll let them choose their benchmark!
Figures of interest are:
MER: 1.28% of the whole unit value (estimated from 2012 values; the 2013 figure is not comparable due to a secondary share offering that spanned 2013 year end).
Average Net Assets: We need this to calculate portfolio yield. No change in Number of Units Outstanding, so the average of the beginning and end of year figures can be used: $81.2-million
Underlying Portfolio Yield: Dividends received of 3,075,803 divided by average net assets of 81.2-million is 3.8%
Income Coverage: Net Investment Income of 1,757,682 divided by Preferred Share Distributions of 2,670,393 is 66%.