{"id":25807,"date":"2014-07-13T20:52:47","date_gmt":"2014-07-14T01:52:47","guid":{"rendered":"http:\/\/prefblog.com\/?p=25807"},"modified":"2014-07-13T20:52:47","modified_gmt":"2014-07-14T01:52:47","slug":"dfn-pr-a-2013-annual-report","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=25807","title":{"rendered":"DFN.PR.A 2013 Annual Report"},"content":{"rendered":"<p>Dividend 15 Split Corp. has released its <a href=\"http:\/\/dividend15.com\/pdf\/DFN_AR13_cd18.pdf\">Annual Report to November 30, 2013<\/a>.<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td colspan=\"4\">DFN \/ DFN.PR.A Performance<\/td>\n<\/tr>\n<tr>\n<td>Instrument<\/td>\n<td>One<br \/>Year<\/td>\n<td>Three<br \/>Years<\/td>\n<td>Five<br \/>Years<\/td>\n<\/tr>\n<tr>\n<td>Whole Unit<\/td>\n<td>+20.70%<\/td>\n<td>+10.88%<\/td>\n<td>+13.44%<\/td>\n<\/tr>\n<tr>\n<td>DFN.PR.A<\/td>\n<td>+5.38%<\/td>\n<td>+5.38%<\/td>\n<td>+5.38%<\/td>\n<\/tr>\n<tr>\n<td>DF<\/td>\n<td>+39.44%<\/td>\n<td>+17.09%<\/td>\n<td>23.58%<\/td>\n<\/tr>\n<tr>\n<td>S&#038;P\/TSX 60 Index<\/td>\n<td>+13.40%<\/td>\n<td>+4.36%<\/td>\n<td>+9.65%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Using the S&#038;P TSX 60 index rather than &#8220;Dividend Aristocrats&#8221; seems a little odd to me &#8211; but we&#8217;ll let them choose their benchmark!<\/p>\n<p>Figures of interest are:<\/p>\n<p>MER: 1.49% of the whole unit value (As reported)0.<\/p>\n<p>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<\/p>\n<p>Underlying Portfolio Yield: Dividends received of $12.13-million divided by average net assets of 327-million is 3.7%<\/p>\n<p>Income Coverage: Net Investment Income of 7.23-million divided by Preferred Share Distributions of 8.89-million is 81%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dividend 15 Split Corp. has released its Annual Report to November 30, 2013. DFN \/ DFN.PR.A Performance Instrument OneYear ThreeYears FiveYears 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&#038;P\/TSX &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-25807","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/25807","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=25807"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/25807\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}