Dividend 15 Split (TSE:DFN) Sets New 52-Week High – Here’s Why

Dividend 15 Split Corp. (TSE:DFN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$8.77 and last traded at C$8.74, with a volume of 162811 shares changing hands. The stock had previously closed at C$8.68.

Dividend 15 Split Trading Up 0.7%

The company’s fifty day simple moving average is C$8.10 and its two-hundred day simple moving average is C$7.74. The company has a quick ratio of 1.75, a current ratio of 0.17 and a debt-to-equity ratio of 131.30. The company has a market capitalization of C$1.32 billion, a price-to-earnings ratio of 4.66 and a beta of 0.50.

Dividend 15 Split Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 8th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, April 30th. This represents a c) annualized dividend and a yield of 13.6%. Dividend 15 Split’s payout ratio is currently 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.