Dividend Growth Split Corp. has released its Semi-Annual Report to June 30, 2015.
The company is the issuer of DGS.PR.A
Figures of interest are:
MER: Expenses were $2,414,610 for six months on assets of $349.2-million (see below) or 1.38% p.a..
Average Net Assets: We need this to calculate portfolio yield and MER. There were negligible capital transactions, so we’ll just take the average of the beginning and end of period assets (including preferred shares) so: (364.6-million + 349.7-million)/2 = $357.2-million. Total preferred dividends paid were 4,965,998 at 0.525 p.a., implying an average of 18.92-million units outstanding, at an average NAVPU of (17.42 + 18.65) / 2 = 18.04, implying average assets of $341.3. Taking the average of two methods results in an approximate value of 349.2-million.
Underlying Portfolio Yield: Total Income (excluding capital gains and losses) of $6.612-million semi-annually divided by average net assets of $349.2-million is 3.78% p.a..
Income Coverage: Net income of $4.197-million (before capital gains and losses) to cover preferred dividends of $4.966-million is 85%.
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DGS.PR.A Semi-Annual Report, 2015
Dividend Growth Split Corp. has released its Semi-Annual Report to June 30, 2015.
The company is the issuer of DGS.PR.A
Figures of interest are:
MER: Expenses were $2,414,610 for six months on assets of $349.2-million (see below) or 1.38% p.a..
Average Net Assets: We need this to calculate portfolio yield and MER. There were negligible capital transactions, so we’ll just take the average of the beginning and end of period assets (including preferred shares) so: (364.6-million + 349.7-million)/2 = $357.2-million. Total preferred dividends paid were 4,965,998 at 0.525 p.a., implying an average of 18.92-million units outstanding, at an average NAVPU of (17.42 + 18.65) / 2 = 18.04, implying average assets of $341.3. Taking the average of two methods results in an approximate value of 349.2-million.
Underlying Portfolio Yield: Total Income (excluding capital gains and losses) of $6.612-million semi-annually divided by average net assets of $349.2-million is 3.78% p.a..
Income Coverage: Net income of $4.197-million (before capital gains and losses) to cover preferred dividends of $4.966-million is 85%.
This entry was posted on Monday, September 14th, 2015 at 2:41 am 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.