Dividend Select 15 (DS) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 9.12%
• Average Volume (3M): 6.96K
• Price to Earnings (P/E): 7.5
• Beta (1Y): 0.60
• Revenue Growth: 27.94%
• EPS Growth: 78.11%
• Country: CA
• Employees: N/A
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.94
• Shares Outstanding: 6,608,380
• 10 Day Avg. Volume: 5,646
• 30 Day Avg. Volume: 6,956
• PEG Ratio: >-0.01
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 4.71
• P/FCF Ratio: 5.48
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 79 Outperform
• Price Target: C$8.50 ▲(15.18% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is driven primarily by strong financial position (no debt) and an attractive valuation (low P/E and high yield). Offsetting factors are historically volatile earnings/cash flows and only moderate technical momentum, while recent dividend declarations provide incremental support.

Dividend Select 15 Business Overview & Revenue Model

Company Description

Dividend Select 15 Corp. is a closed ended equity mutual fund launched and managed by Quadravest Capital Management Inc. The fund invests in public equity markets of Canada. It invests in stocks of companies engaged in the financial services sector. Dividend Select 15 Corp. was formed on August 26, 2010 and is domiciled in Canada.

How the Company Makes Money

Dividend Select 15 makes money primarily through management fees charged to investors who invest in its portfolio. These fees are typically a percentage of the assets under management and are charged on an ongoing basis. Additionally, the company may earn performance fees based on the success of its investment strategy, particularly if the returns exceed certain benchmarks. DS might also benefit from capital appreciation of the stocks within its portfolio, although its core focus remains on generating income through dividends. Partnerships with financial advisors and brokerage firms may also contribute to the company's revenue by facilitating the distribution and marketing of its investment products.

Dividend Select 15 Financial Statement Overview

Summary

Strong balance sheet with no debt and improved 2024 profitability/cash generation, but multi-year volatility (including loss years and uneven cash flow) reduces confidence in durability.

Income Statement

Profitability is strong in the most recent year (2024) with very high reported operating and net profitability and a sharp rebound in revenue (up ~172%). However, results have been volatile across the period, including loss years (2020 and 2023) and uneven revenue trajectory, which reduces confidence in earnings durability.

Balance Sheet

The balance sheet is conservatively positioned with no debt reported across the years shown (debt-to-equity at 0.0), providing meaningful financial flexibility. Equity and assets appear relatively stable, and return on equity swings from negative in down years to strong in up years (e.g., ~20.5% in 2024), highlighting that the main risk is earnings volatility rather than leverage.

Cash Flow

Cash generation improved materially in 2024 with operating cash flow and free cash flow both around 10.0M and strong year-over-year free cash flow growth (over 500%). That said, cash flow has been inconsistent, including a significant negative operating/free cash flow year in 2022, making overall cash-flow stability only moderate despite the recent rebound.

Breakdown	TTM	Nov 2024	Nov 2023	Nov 2022	Nov 2021	Nov 2020
Income Statement
Total Revenue	5.47M	11.64M	3.30M	2.45M	1.69M	3.57M
Gross Profit	2.30M	11.64M	2.58M	1.76M	1.08M	2.96M
EBITDA	8.12M	11.15M	-1.24M	668.86K	11.40M	-4.68M
Net Income	8.12M	11.15M	-1.24M	668.86K	11.40M	-4.68M
Balance Sheet
Total Assets	46.03M	54.95M	53.85M	60.62M	46.36M	41.44M
Cash, Cash Equivalents and Short-Term Investments	1.37M	5.56M	5.51M	8.22M	1.00M	3.12M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	539.39K	627.60K	680.52K	2.15M	628.86K	628.23K
Stockholders Equity	45.49M	54.32M	53.17M	58.47M	45.74M	40.82M
Cash Flow
Free Cash Flow	1.38M	10.02M	1.49M	-4.91M	4.19M	12.29M
Operating Cash Flow	1.38M	10.02M	1.49M	-4.91M	4.19M	12.29M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	-12.22M	-9.97M	-4.20M	12.13M	-6.31M	-12.72M

Dividend Select 15 Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.38
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DS, the sentiment is Positive. The current price of 7.38 is below the 20-day moving average (MA) of 7.42, above the 50-day MA of 7.32, and above the 200-day MA of 6.73, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 72.34 is Negative, neither overbought nor oversold. The STOCH value of 89.44 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:DS.

Dividend Select 15 Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DS	79 Outperform	―	7.54	16.99%	9.12%	27.94%	78.11%
AGF.B	79 Outperform	C$1.33B	10.34	9.85%	3.01%	11.23%	30.44%
MKZ.UN	72 Outperform	C$2.94M	6.34	193.99%	13.17%	-5.41%	-10.83%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
PDV	66 Neutral	C$6.66M	3.65	42.23%	7.52%	-54.61%	273.14%
FSZ	56 Neutral	C$619.48M	16.06	11.26%	8.78%	-0.88%	-52.30%

Dividend Select 15 Corporate Events

Dividend Select 15 Corp. Announces Monthly Distribution, Maintains 10% Yield Target

Dividend Select 15 Corp. has declared a monthly distribution of $0.06067 per Equity share, payable on January 9, 2026 to shareholders of record as of December 31, 2025. The payout is set under the company’s distribution policy, which applies a 10% annualized rate to the volume-weighted average price of the Equity shares over the last three trading days of the prior month, resulting this time from a VWAP of $7.28. The policy is designed to maintain a stable 10% yield on the shares, and with this declaration Equity shareholders have now received a total of $11.44 per share since the fund’s inception, underscoring its focus on steady, high-yield income distributions from its portfolio of leading Canadian dividend stocks.

Dividend Select 15 Corp. Declares Monthly Dividend for December 2025

Dividend Select 15 Corp. has announced a monthly dividend of $0.05992 per Equity share, payable on December 10, 2025, to shareholders on record as of November 28, 2025. This distribution aligns with the company’s policy of maintaining a 10% annualized yield based on the volume-weighted average market price of its shares, reflecting a stable return for investors and reinforcing its commitment to providing consistent income.

Dividend Select 15 Corp. Declares Monthly Dividend for November 2025

Dividend Select 15 Corp. has announced its monthly dividend distribution of $0.05783 per Equity share, payable on November 10, 2025, to shareholders on record as of October 31, 2025. This distribution is part of the company’s policy to maintain a 10% annualized yield based on the volume-weighted average market price of the shares, reflecting its commitment to providing consistent returns to its investors.