Dividend 15 Split (TSE:DFN) Reaches New 52-Week High – Time to Buy?

Shares of Dividend 15 Split Corp. (TSE:DFN) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$9.63 and last traded at C$9.42, with a volume of 721208 shares changing hands. The stock had previously closed at C$9.51.

Dividend 15 Split Price Performance

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 business’s 50-day moving average is C$8.57 and its two-hundred day moving average is C$7.97. The company has a market capitalization of C$1.40 billion, a P/E ratio of 4.96 and a beta of 2.00.

Dividend 15 Split Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 8th were given a $0.10 dividend. This represents a c) dividend on an annualized basis and a yield of 12.7%. The ex-dividend date of this dividend was Thursday, April 30th. Dividend 15 Split’s dividend payout ratio is presently 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.