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Financial 15 Split Corp T.FTN

Alternate Symbol(s):  FNNCF | T.FTN.P.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

Comment by alkhoron Feb 20, 2021 11:28am
121 Views
Post# 32618610

RE:RE:FTN UNIT NAV = approx. $19.99 to Feb 19 close..

RE:RE:FTN UNIT NAV = approx. $19.99 to Feb 19 close..The stock is at $9.85 while its' NAV is $9.99 (don't forget to subtract the $10 for the preferred), so it is only 14 cents below NAV. Traditionally the NAV of the combined shares go to below $20 and get support at $15 when the divvies are suspended allowing it to rise again.

There is very little chance it will go up much from here but will keep paying a divvy unless there is another financial meltdown. Question is do the receiving the divvies compensate for the times they are suspended.. DFN paid well its' whole life with the exception of a few months last year, Others have not paid more than they have paid. All part of the gamble.
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