Dividend 15 Split (TSE:DFN) Shares Pass Above Fifty Day Moving Average - Should You Sell?

Key Points

• Shares passed above its 50-day moving average, trading as high as C$7.94 and last at C$7.88 on volume of 331,890; the 50-day MA is C$7.55 and the 200-day MA is C$7.47.
• $0.10 monthly dividend announced payable May 8 (ex-dividend April 30), representing an annualized yield of 15.2% with a dividend payout ratio of 63.16%.
• The fund targets regular monthly cash dividends of C$0.10 and intends to redeem Class A shares at C$15.00 on the Termination Date, investing in an actively managed portfolio of 15 Canadian companies (including major banks).

Dividend 15 Split Corp. (TSE:DFN - )'s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$7.55 and traded as high as C$7.94. Dividend 15 Split shares last traded at C$7.88, with a volume of 331,890 shares changing hands.

Dividend 15 Split Price Performance

The stock has a fifty day moving average of C$7.55 and a 200-day moving average of C$7.47. 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 firm has a market capitalization of C$1.17 billion, a P/E ratio of 4.15 and a beta of 1.80.

Dividend 15 Split Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, May 8th will be given a $0.10 dividend. This represents a c) dividend on an annualized basis and a yield of 15.2%. The ex-dividend date is Thursday, April 30th. Dividend 15 Split's dividend payout ratio (DPR) is presently 63.16%.

Dividend 15 Split Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.