Dividend 15 Split Corp. (TSE:DFN – Get Free Report) shares crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of C$8.50 and traded as high as C$8.64. Dividend 15 Split shares last traded at C$8.53, with a volume of 461,545 shares trading hands.
Dividend 15 Split Stock Up 1.9%
The firm has a market capitalization of C$1.37 billion, a price-to-earnings ratio of 2.19 and a beta of -0.18. The business has a 50 day moving average of C$8.50 and a 200 day moving average of C$8.29. The company has a debt-to-equity ratio of 114.53, a current ratio of 0.15 and a quick ratio of 1.75.
Dividend 15 Split Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Tuesday, November 10th will be issued a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 14.1%. The ex-dividend date of this dividend is Friday, October 30th. Dividend 15 Split’s payout ratio is 30.77%.
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.
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