TXT.UN Top 10 Split Trust Class A Share
In this page I have compiled the information which allows you to evaluate TXT.UN Top 10 Split Trust Class A Share, based on the latest stock information available. Our goal is to provide you with the information and metrics related to the Class A shares of this split-corporation. Your goal is to determine if this issue meets your requirements. These tools will expedite and aid the selection process. Given all the data available here, an informed decision is within reach.
In a market with low volumes you can use this information to identify mispriced shares.
Top 10 Split Trust Brief Overview
Visit the Top 10 Split Trust company website to see the preferred share prospectus, news and other information.
Sector: Split Share
Main Features of this Spit Share Instrument:
- The Fund is a split share investment trust designed to provide unitholders with exposure to the six largest Canadian banks and four largest Canadian life insurance companies and utilizes Strathbridge’s proprietary SSO covered call writing strategy to enhance the income generated by the portfolio and to reduce volatility.
- Preferred Shares: to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions in the amount of $0.13125 per Preferred share representing a yield on the issue price of the Preferred shares of 5.25% per annum
- Preferred Shares: to pay holders of Preferred Securities fixed quarterly cash interest payments equal to 6.25% per annum on the $12.50 principal amount of a Preferred Security; and (ii) to repay the principal amount of $12.50 per Preferred Security on the maturity date.
- Class A Shares: to provide holders of Capital Units, upon redemption, with the benefit of any capital appreciation in the market price of the securities in the Fund’s portfolio; and (ii) to pay quarterly distributions to holders of Capital Units in an amount targeted to be 7.5% per annum of the NAV per Capital Unit;
- to return the issue price to holders of both Preferred Shares and Class A Shares at the time of redemption of such shares on the termination date.
These securities represent the top ten financial service companies in Canada and provide diversified exposure to the sector. The Preferred Securities are appropriate for an investor looking for a more secure investment than common equities with a high level of income. The Capital Units are appropriate for an investor seeking a leveraged play on the ten financial service companies included in the portfolio while earning tax-efficient distributions.
The latest information and statistics on their common stock TXT.UN, can be easily accessed using websites like TMX Money.
Top 10 Split Trust Credit Rating
The latest credit rating for Top 10 Split Trust are listed in the table below. For additional information on credit rating agencies and codes see our article Credit Rating Symbols.
| S&P Corporate | S&P Preferreds | DBRS Long Term | DBRS Preferreds | S&P Global Corporate | S&P Global Preferreds | Moody's LongTerm |
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Top 10 Split Trust Class A Share Metrics
| Symbol: TXT.UN | Price: 2.5 | Currency: CAD | Name: Top 10 Split Trust | : | Dividend: $0.0228 | Target Yield: 7.50% | Current Yield: 3.63% | Dividend Pay Frequency: Quarterly | : | Current NAV: $12.80 | NAV As Of Date: 2023-10-31 | NAV Threshold: $15.00 | Class A Only NAV: $0.23 | Class A Issue Price: N/A | Variable Dividend: N | Outstanding Float: 499,532 | Total Distributions: $20.41 | Class A Only Distributions: $6.4900 | Issuer Name: Strathbridge |
TXT.UN Net Asset Value vs Threshold over time
The graph below shows relation between the Split Share Net Asset Value and the dividend payout threshold for split shares ( TXT.UN ) over time. Place the mouse cursor over the graph to reveal data like (date, Split Share price detail).Keep in mind if the share price of any of these split shares fall below the threshold of $15.00, the dividend will not be paid out.
TXT.UN Current Yield over time
The graph below shows the Current Yield of the Class A share ( TXT.UN ) over time. Place the mouse cursor over the graph to reveal data like (date, Split Share price detail).Keep in mind if the share price of any of these split shares fall below the threshold, the dividend will not be paid out.
TXT.UN Class A of Split Share Stock Short Position over time
The graph below shows the short position for TXT.UN Class A share over time. Place the mouse cursor over the graph to reveal data like (date, short position detail).Currently the outstanding float for TXT.UN is 605,894 and the latest short position is 33. Thus the current short position is 0.0100% of the outstanding float.