Financial 15 Split Corp T.FTN

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

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 > What would trigger them to stop monthly payout dividends?

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Comment by dannodotcomon Oct 23, 2023 6:47pm

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Post# 35697291

RE:What would trigger them to stop monthly payout dividends?

If the Net Asset Value or NAV gets below $5.00, they will not pay the Class A divy, only the preffered shares divy will be paid. The current NAV is $5.55 according to Mouserman, who is a godsend on this board (and others), as he keeps a running calculation of the NAV. Recommend you go to Quadravest