M Split Corp. $5.00 Class I Preferred Shares (XMF.PR.B)

M Split Corp. $5.00 Class I Preferred Shares (XMF.PR.B $5.25)
- $5.25 Cap: $2M
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M Split Corp. $5.00 Class I Preferred Shares (XMF.PR.B $5.25)
- $5.25 Cap: $2M
- View XMF.PR.B Profile
- View Questions on XMF.PR.B

Q: XMF.PR.B is a preferred split share fund from Quadravest. It invests solely in shares of Manulife . The fund sells at about $5.10 and pays a 7.3% dividend monthly. My understanding is that it has never missed paying the dividend in over 10 years. The fund guarantees to buy back your share at $5.00 on the anniversary date, which is December 1st 2024. It would appear to have bond like characteristics with a high payout. Your input would be appreciated.

Read Answer Asked by Guy R. on August 16, 2019