Dividend 15 Split (TSE:DFN) Sets New 1-Year High – What’s Next?

Shares of Dividend 15 Split Corp. (TSE:DFN) hit a new 52-week high during trading on Thursday . The company traded as high as C$8.07 and last traded at C$8.06, with a volume of 258218 shares changing hands. The stock had previously closed at C$8.04.

Dividend 15 Split Trading Up 0.2%

The stock has a market cap of C$1.20 billion, a P/E ratio of 4.24 and a beta of 1.80. The company has a current ratio of 0.17, a quick ratio of 1.75 and a debt-to-equity ratio of 131.30. The stock’s fifty day moving average price is C$7.62 and its 200 day moving average price is C$7.54.

Dividend 15 Split Announces Dividend

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. This represents a c) dividend on an annualized basis and a dividend yield of 14.9%. The ex-dividend date was Thursday, April 30th. Dividend 15 Split’s payout ratio is 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.