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.

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Financial 15 Split Corp > A question regarding DRIP

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Comment by mousermanon Aug 27, 2023 5:56pm

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Post# 35607425

RE:A question regarding DRIP

NAV wouldnt matter... as a DRIP as an autmatic reinvestment of distributions. WIth these split funds , the distributions generally do NOT change, atho BK has a distributions based on the last 3 days of the trtading price in the previous month, so the distributions can change , usually quite small tho.
Point is the NAV only determines whether common shares get paid.
Preferreds would get paid, and they DO change for the most part as interest rates go up. But nav has nothing to do with the DRIP.

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