{"id":22761,"date":"2013-08-11T17:56:22","date_gmt":"2013-08-11T21:56:22","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=22761"},"modified":"2013-08-11T17:56:22","modified_gmt":"2013-08-11T21:56:22","slug":"dfn-pr-a-semi-annual-report-13h1","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=22761","title":{"rendered":"DFN.PR.A Semi-Annual Report 13H1"},"content":{"rendered":"<p>Dividend 15 Split Corp. has released its <a href=\"http:\/\/www.dividend15.com\/pdf\/DFN_semi13.pdf\">Semi-Annual Report to May 31, 2013<\/a>.<\/p>\n<p>Figures of interest are:<\/p>\n<p>MER: 1.29% of the whole unit value, excluding one time initial offering expenses.<\/p>\n<p>Average Net Assets: We need this to calculate portfolio yield. The Total Assets of the fund at year end was $307.8-million, compared to $320.1-million on May 31, so call it an average of $314-million. Total Preferred Share Distribution for the six months was $4.363-million, at $0.525\/share p.a. implies an average of 16.62-million units, at an average NAV of ((19.22 + 18.45) \/ 2 = 18.84, so call it $313.1-million. Pretty close! Call the average net assets $314-million<\/p>\n<p>Underlying Portfolio Yield: Dividends received of $5.779-million divided by average net assets of $314-million, multiplied by two because it&#8217;s semiannual is 3.68%.<\/p>\n<p>Income Coverage: Dividends of 5.779-million  less expenses before issuance fees of 2.055-million is 3.72-million, to cover preferred dividends of 4.36-million is 85%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dividend 15 Split Corp. has released its Semi-Annual Report to May 31, 2013. Figures of interest are: MER: 1.29% of the whole unit value, excluding one time initial offering expenses. Average Net Assets: We need &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-22761","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22761"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22761\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}