Global Dividend Growth Split

GDV.TO

Asset Management - Global · Financial Services

Price

C$11.60

-0.05 (-0.43%)

Market Cap

C$212.6M

Exchange

Toronto Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Exceptional

Growth

Strong

Cash Flow

Weak

Stability

Strong

Valuation

Good

Dividends

Good

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Share count rising — dilution

+151.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 6.3M (2021) → 16.0M (2025)

Winston Score History

The full picture

Global Dividend Growth Split Corp. is a Canadian closed-end split-share fund that invests in a portfolio of large, dividend-paying companies from around the world. Its main holdings tend to be well-known global stocks, and it is designed for investors who want regular income. The fund is managed by Quadravest Capital Management, a firm that specializes in split-share products listed on the Toronto Stock Exchange.

The fund makes money by collecting dividends from its underlying stock portfolio and by writing options to generate extra income. It issues two types of shares — preferred shares, which pay a fixed dividend, and class A shares, which offer higher potential returns but more risk. The fund operates primarily for Canadian retail investors and is relatively small, with a market cap around $200 million. The main risk is that a broad market downturn could reduce the value of the underlying portfolio, making it harder to sustain dividend payments to both share classes.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+69.6% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+28.3% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

0.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

C$449M cash & investments at current burn rate

Strong grower

Global Dividend Growth Split is growing revenue at 70% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

92.8%

Premium pricing power — 92.8% gross margin

Profit after running costs

Operating Margin

141.3%

Excellent — 141.3% operating margin

Return on the money invested

ROCE

16.5%

Strong — 16.5% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+116.0%

Fast-growing sales (+116.0% YoY)

Profit growth

EPS YoY

+17.5%

Earnings growing fast (+17.5% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

-25%

Weak — only -25% of profit becomes cash

Spare cash per sale

FCF Margin

-26.4%

Burning cash (-26.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.80

Moderate — manageable debt (0.80)

Covers its interest

Interest Cover

8.25x

Comfortably covers interest (8.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

3.5x

Attractive valuation — P/E 3.5

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

10.34%

Healthy income — 10.34% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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