North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.

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North American Financial 15 Split Corp > glad i loaded up yesterday

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Comment by mousermanon Apr 08, 2022 11:17am

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Post# 34587894

RE:glad i loaded up yesterday

The problem with that high yield is that you need capital gains to sustain a payout that is much higher than most of the other split funds. The payout today was 11.335 cents per share for commons and 5.625 for preferred. Basically 17 cents. Today banks are having a rebound bounce... but the Unit
nav is still precariously close to 15$ ....risk is not worth the reward imo, with a ridiculously high premium to the actual value.

Chefboy69 wrote: when you see this at almost a 20% divi yield...
YOU BUY....

and to the short bashers......not sure why you would short a financial fund?
so weird....

congrats to those that loaded up