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 > Calculating NAV - Question on Dividends Receivable

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Comment by navgodon Apr 22, 2024 11:13am

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Post# 36001345

RE:RE:Calculating NAV - Question on Dividends Receivable

oldbrit34 wrote: I believe that any stock held by the fund that goes ex dividend is a receivable until the dividend is received. Once the fund has the cash in its hands then it can be included as part of the NAV. In the world of accounting no receivable can be taken as the same as 100% cash until you have been paid.

In the world of accounting a receivable is an asset and given we are talking about Net Asset Value (NAV) it is included.

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