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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.


TSX:FFN - Post by User

Comment by pandscaon Jun 28, 2022 2:19pm
224 Views
Post# 34788189

RE:PULCAN invest $25k in FFN dividend

RE:PULCAN invest $25k in FFN dividend

pulcan wrote: Hi all,  I picked up $25k worth of shares last week on the dip. These are all the top banks in North America with a .1257 cents dividend monthly with a DRIP.  I had to take advantage of the share price as they hammered it big time last two weeks. This is a good bet on a comeback price above $5. 

********  There is no dividend until we hit the $15 NAV  ********

, but with the price being around $4 and the markets coming back this is a good shot at $5 or $6. Remember no more service fees being paid out so this is better for shareholders.

In the post above, the isolated part confuses me a lot.

My son owns exactly this "North American Financial 15 Split Corp - Class A" stock and has been collecting monthly DIVs on this every month for the last year+.
I've read many posts indicating that there is no DIV until we hit the $15 NAV, yet I look at my sons monthly DIVs come in steadily. This confuses me.

I've read though all kinds of blog posts and sales junk that make Split stocks nothing but confusing - clearly obfuscated so only bean counters could desipher it.

Can someone please tell me in clear simple text why people are posting that this stock is not issuing a DIV when I see first-hand DIV payment coming in every month in my son's account.

I want to $50K+ of this year alone, but this point is confusing me, so I'm hesitant.

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