Bullboard - Stock Discussion Forum 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... see more

Add To Watchlist

TSX:FTN - Post Discussion

Financial 15 Split Corp > FTN dividend restored to full amount

View:

Post by GoGetter1 on Dec 07, 2020 7:39pm

FTN dividend restored to full amount

Take note that the new post consolidated distribution will be $0.1257 per unit, which has been revised upward from the previously proposed $0.10 per unit. First payment is Jan 8, 2021.

268

Comment

Comment by bychoice on Dec 08, 2020 8:52am

Is there any caveat that says when the NAV goes beloew a cerftain value, the A shares will no longer receive a dividend? In all of the NEWS, I see none!

121

Comment

Comment by navgod on Dec 08, 2020 8:58am

Same as before - after consolidation no divy for capital shares if unit NAV is under $15.

135

Comment

Comment by EdPaquette on Dec 08, 2020 9:43am

My math says new unit nav will be 19.05 and distribution will be 16%. Anyone confirm or deny my math?

148

Comment

Comment by mouserman on Dec 08, 2020 6:34pm

The value of the stocks held in FTN will determine the NEW UNIT NAV on that day. The math factor of the consolidation will apply. IF the bank stocks fall 10% before that day, then the UNIT NAV will drop 10% ..or vice versa, if they rise that much, then the UNIT NAV will be higher.

231

Comment

Financial 15 Split Corp