Financial 15 Split Corp T.FTN

Alternate Symbol(s): FNNCF | T.FTN.PR.A

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 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 over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp

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Comment by wolverine99on Dec 14, 2018 7:12am

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Post# 29114500

RE:RE:Review of NAV tomorrow ?

With this type of holding that's likely not a bad strategy, and that may well happen. Last time they suspended the Dividend it stayed off for 18 months, the SP bottomed out mid $3 and worked its way back up to mid $8. The only caveat is the current term expires Dec. 2020, and while they are likely to renew for another 5 years, no guarantee.

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