FFJ Portfolio – March 2017 Dividend Income Report

(Last Updated On: August 31, 2017)

The following is a report reflecting the monthly and YTD dividend income generated from investments held in the FFJ Portfolio.

FFJ Portfolio YTD Dividend Income as at end of March 2017
FFJ Portfolio YTD Dividend Income as at end of March 2017

I imagine March will be the last month in which we will receive a quarterly dividend from DH Corporation (TSX: DH). On March 13, 2017, DH issued a press release indicating it had entered into definitive agreement to be acquired by Vista Equity Partners. Vista will acquire all the outstanding shares of DH for $25.50/share in cash including the assumption of all debt obligations including the issued convertible debentures, for a total enterprise value of approximately $4.8B. The transaction price represents a premium of about 36% over DH’s closing share price on December 5, 2016, the last trading day before media reports surfaced suggesting the Company was exploring strategic alternatives.

Unfortunately my average cost on the 414 shares in the FFJ Portfolio is $30.84 so I am taking a haircut of about $2200. The silver lining, however, is that we hold 1256 DH shares in another account at an average cost of $18.892. This will result in a gain of about $8300.

Hope your investments aptly rewarded you in March!