Global Dividend Growth Split Corp.

Section1: Company Overview and Fundamental Insights:

Global Dividend Growth Split Corp. (TSX: GDV) operates as a closed-end investment management services provider. It invests in a portfolio of equity securities of large capitalization global dividend growth companies. The company was founded on April 24, 2018 and is headquartered in Ontario, Canada.

Kalkine’s Dividend Income Report covers the Investment Highlights, Key Financial Metrics, Risks, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

Global Dividend Growth Split Corp. Class A Shares invests in a diversified portfolio of large-cap global dividend growth companies, aiming to deliver steady income and capital appreciation. The Fund provides Class A shareholders with monthly cash distributions and growth potential, while Preferred shareholders receive fixed, cumulative quarterly dividends with priority on assets.

The portfolio spans multiple sectors, including Consumer Discretionary, Industrials, Materials, Real Estate, Energy, and Communication Services, with key holdings like Dollarama, Safran, Agnico Eagle Mines, and WellTower. The Fund actively hedges foreign currency exposure and selectively writes covered calls to enhance income and manage volatility.

Recent performance shows an 8.9% increase in units in H1 2025, slightly under the MSCI World Total Return Index, supported by favourable sector selection and resilient underlying holdings. The Fund’s term has been extended to June 2031, offering long-term investors attractive distributions (~10.7% for Class A) and capital growth potential.

The company reported rising financials in H1 2025, where it clocked healthy growth under its Net Realized Gain (loss) on Sale of Investments and Interest for Distribution Purposes, which is a key positive. Furthermore, it witnessed elevated Distributions paid on Redeemable Preferred Shares and Interest Received, displaying its healthy portfolio activity and cash generation.

Section 2: Business Update and Financial Highlights

The picture below gives an overview of the company’s recent activities, such as an announcement regarding update on Decent Track Record of Outperformance.

Section 3: Key Risks and Company Outlook

Section 4: Stock Recommendation Summary

The stock has witnessed an upside of ~2.20% and ~6.83% over the last 1 month and 3 Months respectively. Moreover, it is trading above the average 52-week high price of CAD 12.30 and 52-week low price of CAD 8.38, providing an opportunity to ride the trend.

Valuation Methodology Price to Book Value Multiple Based Relative Valuation (Illustrative):

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is September 22, 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Dividend Yield may vary as per the stock price movement. 

Note 5: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.