Dividend 15 Split (TSE:DFN) Reaches New 1-Year High – Here’s Why

Dividend 15 Split Corp. (TSE:DFN) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$8.35 and last traded at C$8.34, with a volume of 439290 shares. The stock had previously closed at C$8.30.

Dividend 15 Split Price Performance

The firm has a market cap of C$1.24 billion, a PE ratio of 4.39 and a beta of 1.80. The stock’s fifty day moving average price is C$7.74 and its 200-day moving average price is C$7.59. The company has a debt-to-equity ratio of 131.30, a current ratio of 0.17 and a quick ratio of 1.75.

Dividend 15 Split Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, May 8th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 14.4%. Dividend 15 Split’s dividend payout ratio is presently 63.16%.

About Dividend 15 Split

The Companys investment objectives with respect to the Class A Shares are (a) to provide holders of Class A Shares with regular monthly cash dividends targeted to be $0.10 per Class A Share; and (b) on or about the Termination Date (as defined herein), to pay holders of Class A Shares $15.00 per Class A Share, which was the issue price thereof on the initial public offering of the Company, through the redemption of each Class A Share held on the Termination Date. The assets of the Company are invested in an actively managed portfolio of common shares (the Portfolio) which primarily includes securities of the following 15 publicly traded Canadian companies (the Portfolio Companies), each of whose securities will generally represent no less than 4% and no more than 8% of the Net Asset Value of the Company: Bank of Montreal The Bank of Nova Scotia BCE Inc Canadian Imperial Bank of Commerce CI Financial Corp.