Split Corporation
Class A share & preferred share data · Live TSX data, updated daily
Class A (ESP) price
$6.47
$-0.55 today
Class A Yield
18.55%
Preferred Yield
7.07%
NAV / Unit
—
Downside Protection
39.1%
Dividend Coverage
—
Maturity Date
—
The fund issues two classes. Class A (ESP) pays a higher, variable monthly dividend and floats with the portfolio. Preferred shares rank ahead of Class A and give up upside for stability.
| Metric | Class A (ESP) | ESP.PR.A |
|---|---|---|
| Price | $6.47 | $10.25 |
| Current Yield | 18.55% | 7.07% |
| Dividend | Variable monthly | $0.1813 |
| 52-Week Range | $3.90–$8.34 | $9.55–$10.70 |
| Priority | Juniors — paid after preferreds | Senior — paid first, cumulative |
| Detail page | n/a (fund quote) | — |
ESP is a split corporation: a closed-end fund that splits a portfolio of dividend-paying stocks into two classes of shares with different risk-return profiles. Preferred shares — ESP.PR.A — receive a prioritized, cumulative monthly dividend; Class A shareholders give up that priority in exchange for a much higher yield.
Preferred holders' downside protection stands at 39.1%: the portfolio could fall that far before preferred shareholders' $25 redemption value is at risk.
ESP is a Canadian split corporation managed by its manager. It holds a portfolio of dividend-paying stocks and issues two classes of shares: Class A shares (higher yield, more risk) and preferred shares (prioritized, more stable dividends).
ESP is the Class A share — the equity class of the fund, with a higher (and variable) yield. ESP.PR.A is the preferred share class, which receives a prioritized cumulative dividend and ranks ahead of Class A. Downside protection is currently 39.1%.
Downside protection is the cushion preferred shareholders have before losing principal: it is the difference between the fund's net asset value per unit and the preferred shares' redemption value. For ESP it is currently 39.1%.