Dividend 15 Split (TSE:DFN) Reaches New 1-Year High – Still a Buy?

Dividend 15 Split Corp. (TSE:DFN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$9.65 and last traded at C$9.64, with a volume of 271723 shares traded. The stock had previously closed at C$9.56.

Dividend 15 Split Stock Performance

The stock has a market cap of C$1.44 billion, a P/E ratio of 5.07 and a beta of 2.00. The business has a 50 day moving average price of C$8.70 and a 200 day moving average price of C$8.03. The company has a quick ratio of 1.75, a current ratio of 0.15 and a debt-to-equity ratio of 114.53.

Dividend 15 Split Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 8th. Investors 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) dividend on an annualized basis and a yield of 12.4%. Dividend 15 Split’s payout ratio 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.