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Dividend 15 Split II (DF) AI Stock Analysis

105 Followers
TSE:DF

Dividend 15 Split II

(TSX:DF)

Select Model
Rating:55Neutral
Price Target:CAD 8.50â–¼(-1.62% Downside)
Action:reiterated
Date:11/07/26

The score is held back primarily by inconsistent cash flow and high volatility in profitability/revenue, alongside still-meaningful leverage. Technicals are mildly weak with the stock below key short/medium moving averages and only modest momentum. Valuation is the main support, with a very low P/E and very high dividend yield, but these are tempered by the underlying variability in earnings and cash generation.

Positive Factors
Earnings reboundThe return to strong positive earnings in 2024 and 2025 improves the company’s current profitability profile after prior losses. If earnings remain positive, this can support distributions, rebuild equity, and provide a stronger base for managing the split-share structure over the next several quarters.
Negative Factors
Declining and volatile revenueRevenue weakness across two consecutive years and highly variable margins make recent earnings harder to treat as a stable run rate. This reduces confidence in the durability of profitability and could constrain the consistency of distributions and capital rebuilding if conditions weaken.

Dividend 15 Split II (DF) vs. iShares MSCI Canada ETF (EWC)

-10%0%10%20%30%40%50%60%TSE:DF+42.13%EWC+21.06%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
CAD 237.33M
Dividend Yield
13.89%
Average Volume (3M)
57.78K
Price to Earnings (P/E)
2.2
Beta (1Y)
0.84
Revenue Growth
-46.90%
EPS Growth
50.41%
Country
Canada
Employees
―
Sector
Financial
Sector Strength
68
Industry
Asset Management

Dividend 15 Split II Business Overview & Revenue Model

Company Description

Managed by Quadravest Capital Management, Dividend 15 Split Corp. II operates as a closed-end equity mutual fund. Launched by Quadravest Inc. on September 28, 2006, this Canadian-based fund allocates capital to publicly traded companies within Canada...

Dividend 15 Split II Financial Statement Overview

Summary

Income statement shows a meaningful earnings rebound in 2024–2025, but revenue is down in both years and margins are extremely volatile, raising sustainability concerns. Balance sheet leverage remains moderate-to-high (debt-to-equity above 1x in 2024–2025) despite improvement versus earlier years. Cash flow is the key weakness: operating/free cash flow turned negative in 2025 after positive 2023–2024, with large negative years in 2021–2022, reducing confidence in through-cycle cash generation.

Income Statement

62Positive

Balance Sheet

54Neutral

Cash Flow

41Neutral
Financial statement breakdown
BreakdownTTMNov 2025Nov 2024Nov 2023Nov 2022Nov 2021
Income Statement
Total Revenue17.97M32.76M17.96M26.04M18.98M6.31M
Gross Profit14.39M29.66M110.30M-7.06M9.97M3.84M
EBITDA118.50M63.39M109.54M-8.17M8.62M43.80M
Net Income100.86M46.99M95.41M-25.11M-10.23M32.30M
Balance Sheet
Total Assets512.85M452.40M428.63M346.21M459.60M376.27M
Cash, Cash Equivalents and Short-Term Investments511.66M451.35M427.45M344.80M59.81M63.35M
Total Debt258.44M248.87M251.42M249.08M311.12M243.13M
Total Liabilities263.83M253.81M255.80M250.75M314.35M247.42M
Stockholders Equity249.02M198.59M172.83M95.46M145.25M128.85M
Cash Flow
Free Cash Flow-5.36M-3.96M34.03M62.60M-77.11M-96.13M
Operating Cash Flow-5.36M-3.96M34.03M62.60M-77.11M-96.13M
Investing Cash Flow000000
Financing Cash Flow35.20M-21.93M-27.37M-103.96M73.56M146.64M

Dividend 15 Split II Technical Analysis

Technical Analysis SentimentPositive
Last Price8.64

Price Trends

50DMA8.44Positive
100DMA8.60Positive
200DMA7.94Positive

Market Momentum

MACD0.04Negative
RSI57.70Neutral
STOCH80.82Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DF, the sentiment is Positive. The current price of 8.64 is above the 20-day moving average (MA) of 8.50, above the 50-day MA of 8.44, and above the 200-day MA of 7.94, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 57.70 is Neutral, neither overbought nor oversold. The STOCH value of 80.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:DF.

Dividend 15 Split II Peers Comparison

Overall Rating

UnderperformOutperform
Sector (68)

Financial Indicators

TSE:DF against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TSE:PWITSE:PWI76OutperformCAD 50.81M2.9927.77%11.82%233.57%28.65%
Sector *68Neutral$18.00B11.429.92%3.81%9.73%1.22%
TSE:BNKTSE:BNK63NeutralCAD 28.71M1.5559.22%7.96%288.09%138.83%
TSE:PDVTSE:PDV58NeutralCAD 7.86M2.3447.78%8.75%-3.86%84.88%
TSE:DFTSE:DF55NeutralCAD 237.33M2.1645.07%13.89%-46.90%50.41%
TSE:RSTSE:RS53NeutralCAD 109.29M4.8417.87%18.27%95.81%37.32%

* Financial Sector Average

Performance Comparison

0%25%50%75%TSE:DFTSE:PDVTSE:RSTSE:BNKTSE:PWITSE:ISDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TSE:DF and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:DFDividend 15 Split Corp II Class A8.642.5942.74%
TSE:PDVPrime Dividend Cl A14.905.4858.19%
TSE:RSReal Estate & E-Commerce Split Corp. Class A8.540.688.69%
TSE:BNKBig Banc Split Corp.15.284.9848.38%
TSE:PWISustainable Power & Infrastructure Split Corp.9.900.343.52%
TSE:ISInternational Clean Power Dividend Fund18.904.0927.59%

Dividend 15 Split II Corporate Events

Dividends

Dividend 15 Split Corp. II Announces Monthly Payouts for Class A and Preferred Shares

Positive
Oct 20, 2026

Dividend 15 Split Corp. II, which invests in a diversified basket of leading Canadian dividend-paying banks, telecoms, insurers and infrastructure companies, provides investors with structured exposure to income-generating blue-chip stocks. The firm...

Business Operations and StrategyDividends

Dividend 15 Split Corp. II Boosts Cumulative Payouts With New Monthly Distribution

Positive
Sep 18, 2026

Dividend 15 Split Corp. II has declared a monthly cash distribution of $0.10000 per Class A share and $0.05833 per Preferred share, reinforcing its income-focused strategy for investors. The payments will be made on October 9, 2026 to shareholders of...

Dividends

Dividend 15 Split Corp. II Declares Monthly Distributions for Class A and Preferred Shares

Positive
Aug 19, 2026

Dividend 15 Split Corp. II has announced its latest monthly cash distributions to investors holding its two classes of shares. The company declared a dividend of $0.10000 per Class A share and $0.05833 per Preferred share, payable on September 10, 20...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 06, 2026