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Derived from payout historyIncome reliability
Payout depends on structure rules
DFN.TO is structure-sensitive. The payout may look regular, but coverage tests and distribution conditions matter more than cadence alone.
Market dataIncome framework read
Split-Share / Structure-SensitiveTSXCanada
DFN.TO
Dividend 15 Split Corp.
Multi-Sector (ETF / Fund)Split-share structureMonthly
Market Snapshot
$8.37
-$0.02 (-0.24%)
Toronto
Yield
14.34%
Rate $1.20
Next Payment
—
Ex-date 2026-09-29
52wk Position
59.88%
-13.44% below high
Updated —
Decision Area
Distribution and DRIP Defense
Payout history, default DRIP coverage, and price creep pressure using market data where available.
Distribution Chart
Last 12 payments
Confirmed Expected
Coverage Ratio Test
DRIP defense check
- Cash
- $10.00
- APR
- 1.195
- Coverage
- 1.195
Fortress level. Selectively used for highest-priority rungs.
Price Creep
Defended price ceiling
- Max defended
- $10.00
- Cushion
- $1.63
- Cushion %
- 19.47%
Current $8.37Break $10.00
Smart Recommendation
DFN.TO is inside the defended DRIP zone at these inputs; monitor price creep before adding new capital.
Research Signals
Payout sustainability
Moderate
5mo agoDRIP availability
Plan-only
5mo agoTax character
Mixed
5mo agoDistribution history
5–10 yr track
5mo agoStructure complexity
Complex
5mo agoIncome trend
Variable
5mo agoAccount suitability
Non-reg: caution
5mo agoStructure Overview
Dividend 15 Split Corp. (DFN) holds a portfolio of 15 Canadian dividend-paying stocks and splits the portfolio between preferred shares (priority distributions) and capital shares (residual income and NAV upside). The leverage embedded in the capital share class amplifies returns when the underlying portfolio rises and losses when it falls. Distributions can be suspended if the asset coverage ratio falls below regulatory thresholds.
Canadian Planning Notes
- 1DFN's capital shares carry leveraged exposure to the underlying 15-stock portfolio; the high stated yield reflects that leverage and cannot be compared directly to unlevered dividend income.
- 2Distribution suspensions have occurred in prior market downturns; do not plan income around DFN capital shares without modelling coverage ratios at lower market levels.
- 3T5 distributions include eligible dividends and capital gains from the underlying portfolio split between share classes; verify the annual tax slip for the actual character.
Market Facts
Market Data
A factual market, distribution, valuation, and financial snapshot for this holding.
Canadian Context
Account placement
TFSA
Mixed-character distributions are usually easiest to handle in a TFSA because annual tax reporting is avoided.
RRSP: Also shelters distribution complexity.
Non-registered: Review T3 or issuer tax breakdown before using a taxable account.
Eligible dividend tax credit
- Total credit
- $345.27
- Effective rate
- 34.53%
Broker DRIP status
Questrade
Available
Wealthsimple
Available
RBC Direct Investing
Available
TD Direct Investing
Available
Run Your Numbers
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This profile is informational only and does not constitute licensed financial advice. Signal values, planning notes, market data, and structure summaries may not reflect the most current issuer disclosures. Always verify current payout policy, ex-dividend dates, financial statements, and issuer communications before making any investment decision.