DFN.TO

Structure 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.

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