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Dividend 15 Split Corp
(TSX:DFN)
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Rating:63Neutral
Price Target:
C$9.00
â–²(2.04% Upside)
Action:Reiterated
Date:07/18/26
The score is held back primarily by uneven financial quality—high volatility in earnings/cash flow, meaningful leverage, and weak cash-flow coverage of debt—despite a strong recent rebound. Technicals are supportive due to a clear uptrend, but extremely overbought readings increase near-term risk. Valuation is a key positive, with a low P/E and very high dividend yield.
Positive Factors
Diversified Portfolio Structure
Diversification across established Canadian dividend payers can reduce reliance on any single holding and supports a repeatable investment-income model, while the split-share structure offers distinct risk and income profiles for preferred and class A investors.
Negative Factors
Meaningful Leverage
Meaningful leverage increases exposure to portfolio declines and can magnify pressure on the split-share structure. It may also constrain financial flexibility and make asset coverage more sensitive to sustained weakness in underlying equity holdings.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Portfolio Structure
Diversification across established Canadian dividend payers can reduce reliance on any single holding and supports a repeatable investment-income model, while the split-share structure offers distinct risk and income profiles for preferred and class A investors.
Read all positive factors
Dividend 15 Split Corp (DFN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.40B
Dividend Yield13.84%
Average Volume (3M)633.13K
Price to Earnings (P/E)2.2
Beta (1Y)0.80
Revenue Growth4.02%
EPS Growth69.22%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)3.90
Shares Outstanding161,013,060
10 Day Avg. Volume843,405
30 Day Avg. Volume633,131
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)0.89
Price to Sales (P/S)10.97
P/FCF Ratio14.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Dividend 15 Split Corp Business Overview & Revenue Model
Company Description
Established by Quadravest Inc., Dividend 15 Split Corp. operates as a closed-end equity mutual fund, with its management entrusted to Quadravest Capital Management. The fund directs its capital into the public equity markets of Canada, pursuing a ...
How the Company Makes Money
Dividend 15 Split Corp. generates economic value primarily from the investment income and market performance of its underlying equity portfolio. Its main sources of cash inflow are: (1) dividends received from the portfolio holdings, which are use...
Dividend 15 Split Corp Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
54
Neutral
Cash Flow
49
Neutral
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 92.46M | 88.22M | 88.65M | 75.94M | 66.91M | 25.77M |
| Gross Profit | 71.43M | 70.51M | 73.04M | 61.60M | 52.36M | 12.28M |
| EBITDA | 673.07M | 340.20M | 466.64M | -38.21M | 58.87M | 231.82M |
| Net Income | 578.21M | 257.50M | 399.46M | -114.27M | -1.70M | 184.27M |
Balance Sheet | ||||||
| Total Assets | 3.11B | 2.55B | 428.63M | 346.21M | 459.60M | 376.27M |
| Cash, Cash Equivalents and Short-Term Investments | 241.51M | 246.41M | 427.45M | 344.80M | 59.81M | 63.35M |
| Total Debt | 1.64B | 1.43B | 251.42M | 249.08M | 311.12M | 910.90M |
| Total Liabilities | 1.68B | 1.46B | 255.80M | 250.75M | 1.08B | 926.98M |
| Stockholders Equity | 1.44B | 1.09B | 172.83M | 95.46M | 145.25M | 128.85M |
Cash Flow | ||||||
| Free Cash Flow | 67.91M | 67.68M | 34.03M | 62.60M | -77.11M | -96.13M |
| Operating Cash Flow | 67.91M | 67.68M | 34.03M | 62.60M | -77.11M | -96.13M |
| Investing Cash Flow | -284.26M | -108.29M | -69.24M | -121.03M | 10.37M | -438.79M |
| Financing Cash Flow | 266.52M | 84.75M | -27.37M | -103.96M | 73.56M | 146.64M |
Dividend 15 Split Corp Technical Analysis
Positive
8.82
Price Trends
8.92
Negative
8.34
Positive
7.60
Positive
Market Momentum
-0.13
Positive
48.68
Neutral
50.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DFN, the sentiment is Positive. The current price of 8.82 is above the 20-day moving average (MA) of 8.70, below the 50-day MA of 8.92, and above the 200-day MA of 7.60, indicating a neutral trend. The MACD of -0.13 indicates Positive momentum. The RSI at 48.68 is Neutral, neither overbought nor oversold. The STOCH value of 50.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:DFN.
Dividend 15 Split Corp Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | C$63.64M | 3.80 | 27.77% | 8.77% | 233.57% | 28.65% | |
63 Neutral | C$1.40B | 2.22 | 45.74% | 12.55% | 4.02% | 69.22% | |
62 Neutral | C$7.96M | 2.35 | 47.78% | 6.59% | -3.86% | 84.88% | |
56 Neutral | C$114.00M | 5.47 | 17.87% | 14.46% | 95.81% | 37.32% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | C$27.69M | 1.49 | 59.22% | 8.54% | 288.09% | 116.67% |
* General Sector Average
TSE:DFN
Dividend 15 Split Corp
8.53
2.88
51.03%
TSE:PDV
Prime Dividend Cl A
15.93
7.64
92.26%
TSE:RS
Real Estate & E-Commerce Split Corp. Class A
9.70
1.18
13.86%
TSE:BNK
Big Banc Split
14.61
4.06
38.54%
TSE:PWI
Sustainable Power & Infrastructure Split
11.80
2.93
33.05%
TSE:IS
International Clean Power Dividend Fund
18.64
4.50
31.83%
Dividend 15 Split Corp Corporate Events
Dividends
Dividend 15 Split Corp. Declares Monthly Payouts for Class A and Preferred Shares
Positive
Aug 19, 2026
Dividend 15 Split Corp. is a Toronto-based investment company that focuses on a portfolio of leading Canadian dividend-paying stocks, including major banks such as Bank of Montreal, Bank of Nova Scotia, CIBC, Royal Bank of Canada, TD Bank and Nati...
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.