Split Corporation
Class A share & preferred share data · Live TSX data, updated daily
Class A (PDV) price
$14.44
+$0.00 today
Class A Yield
11.03%
Preferred Yield
6.46%
NAV / Unit
$25.28
Downside Protection
60.4%
Dividend Coverage
—
Maturity Date
Dec 1, 2028
The fund issues two classes. Class A (PDV) 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 (PDV) | PDV.PR.A |
|---|---|---|
| Price | $14.44 | $10.53 |
| Current Yield | 11.03% | 6.46% |
| Dividend | Variable monthly | $0.0567 |
| 52-Week Range | $8.84–$20.40 | $10.19–$11.50 |
| Priority | Juniors — paid after preferreds | Senior — paid first, cumulative |
| Detail page | n/a (fund quote) | — |
PDV 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. The portfolio's net asset value is currently $25.28 per unit. Preferred shares — PDV.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 60.4%: the portfolio could fall that far before preferred shareholders' $25 redemption value is at risk.
On Dec 1, 2028 the fund matures and is wound up: preferred shares are redeemed first, Class A holders receive the residual value. See our PDV.PR.A preferred share page for issue terms, prospectus data and history.
PDV 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).
PDV is the Class A share — the equity class of the fund, with a higher (and variable) yield. PDV.PR.A is the preferred share class, which receives a prioritized cumulative dividend and ranks ahead of Class A. Downside protection is currently 60.4%.
The fund has a maturity date of Dec 1, 2028. At maturity, the fund winds up and both classes are terminated: preferred shareholders are paid first (up to their $25 redemption value per preferred share), and Class A holders receive what remains of the portfolio value.
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 PDV it is currently 60.4%.