Dividend 15 Split Corp. has released its Annual Report to November 30, 2013.
| DFN / DFN.PR.A Performance |
| Instrument |
One
Year |
Three
Years |
Five
Years |
| Whole Unit |
+20.70% |
+10.88% |
+13.44% |
| DFN.PR.A |
+5.38% |
+5.38% |
+5.38% |
| DF |
+39.44% |
+17.09% |
23.58% |
| 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: 1.49% of the whole unit value (As reported)0.
Average Net Assets: The average of the beginning and end of year figures is ($378.1-million + $307.8-million) / 2 = $343-million. Total preferred share dividends = $8,890,054 at 0.525 / share implies average of 16.93-million units outstanding, at an average NAVPU of ($18.22 + $18.45) / 2 = 18.34, implies average net assets of $310-million. Not very good agreement! But call it about $327-million
Underlying Portfolio Yield: Dividends received of $12.13-million divided by average net assets of 327-million is 3.7%
Income Coverage: Net Investment Income of 7.23-million divided by Preferred Share Distributions of 8.89-million is 81%.
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DFN.PR.A 2013 Annual Report
Dividend 15 Split Corp. has released its Annual Report to November 30, 2013.
Year
Years
Years
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: 1.49% of the whole unit value (As reported)0.
Average Net Assets: The average of the beginning and end of year figures is ($378.1-million + $307.8-million) / 2 = $343-million. Total preferred share dividends = $8,890,054 at 0.525 / share implies average of 16.93-million units outstanding, at an average NAVPU of ($18.22 + $18.45) / 2 = 18.34, implies average net assets of $310-million. Not very good agreement! But call it about $327-million
Underlying Portfolio Yield: Dividends received of $12.13-million divided by average net assets of 327-million is 3.7%
Income Coverage: Net Investment Income of 7.23-million divided by Preferred Share Distributions of 8.89-million is 81%.
This entry was posted on Sunday, July 13th, 2014 at 8:52 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.