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.

TSX:FTN - Post by User

Financial 15 Split Corp > FTN unit nav to May 10 = approx; $18.45

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Comment by Toppicks1on May 11, 2024 10:54am

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RE:FTN unit nav to May 10 = approx; $18.45

mouserman wrote: Spreadsheet showing a gain of 53 cents despite the CAD/USD exchange hurting the valuations of the US holdings. Last trade @ $8.27 leaves a discount of 18 cents.... seems to be a lot of sellers in this name, keeping a lid on the price. Annual yield of 18.24 % you would think should give a bit of premium. Nearly 3.5 $ of safety.

Shorts still have a couple weeks to swing in their favour. Even a 3% premium would trade at 8.70....

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