{"id":26564,"date":"2014-10-13T16:26:11","date_gmt":"2014-10-13T21:26:11","guid":{"rendered":"http:\/\/prefblog.com\/?p=26564"},"modified":"2014-10-13T16:26:11","modified_gmt":"2014-10-13T21:26:11","slug":"dgs-pr-a-semi-annual-report-14h1","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=26564","title":{"rendered":"DGS.PR.A Semi-Annual Report 14H1"},"content":{"rendered":"<p>Dividend Growth Split Corp. has released its <a href=\"http:\/\/www.bromptongroup.com\/static\/pdf\/funds\/dgs\/dgs_june2014.pdf\">Semi-Annual Report to June 30, 2014<\/a>.<\/p>\n<p>Figures of interest are:<\/p>\n<p>MER: According to the report:<\/p>\n<blockquote><p>Excluding the Preferred share distributions and issuance costs, MER per Class A share was 0.98% for the first six months of 2014 compared to 1.04% in 2013. This ratio is more representative of the ongoing efficiency of the administration of the Fund.<\/p><\/blockquote>\n<p>Average Net Assets: We need this to calculate portfolio yield, and it&#8217;s a nightmare due to the share issuance.The average of the beginning and end of period assets is: (224.5-million + 184.6-million)\/2 = 204.6-million. Distributions paid on preferred shares were $2,913,292, at $0.525 p.a. for half a year, implies an average of 11.098-million units outstanding, at an average NAVPU of 18.70, implies average assets of $207.5-million, which is surprisingly close. So call the average assets $206-million.<\/p>\n<p>Underlying Portfolio Yield: Total Income (dividends, securities lending and interest) of $4.40-million over half a year divided by average net assets of $206-million is 4.3% p.a..<\/p>\n<p>Income Coverage: Net income before realized and unrealized capital gains and before share issuance costs is $3.29-million to cover preferred dividends of $2.98-million is 110%. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dividend Growth Split Corp. has released its Semi-Annual Report to June 30, 2014. Figures of interest are: MER: According to the report: Excluding the Preferred share distributions and issuance costs, MER per Class A share &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-26564","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/26564","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=26564"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/26564\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}