Financial 15 Split Corp T.FTN

FTN UNIT NAV to Jan 14 = approx: $22.83

[mouserman]

SO FTN has gained approx. $1.30 since the dec 31 update... and that is a 11% gain for the NAV in the commons in 2 weeks. Not many have done better than that. 
Discount at the close was 46 cents,  or  3.5% , so it is finally shrinking a bit.

[gribbs2]

is FTN in a better position financially now?   is it time to add shares? thanks.

[slst]

I have been selling others, to add to my position on this because of the discount to NAV.  At this price, the longer term safety factor is higher than historical levels. I suspect, they will normalize their overly generous dividend to the preferreds and that will reduced annual outflows enhancing the overall qualitative value even further. At somepoint I am also hoping they will do a

[PileOfShit]

This post has been removed in accordance with Community Policy

[navgod]

Rules of preferred shares?! !st the next reset date for FTN.pr.a is Dec 2025.  Until that date the pref has a minimum interest rate of 5.5% with a rate set annually by the board of directors currently @ 6.75% Info from the fund features page for FTN on the Quadravest web site.

[oldtrustguy]

Re preferred shares monthly dividend The press release says!!! In connection with the extension, the company may amend the prescribed minimum annual rate of cumulative preferential monthly dividends to be paid to the FTN.PR.A Preferred Shares ("Preferred Shares") for the five-year renewal period, commencing December 1.2020. The  Company may also AMEND the dividend entitlement of

[mouserman]

UNIT NAV for FTN went over 23$ today, and i was also adding some today. FTN the most discounted of the split funds that pay a decent yield , as today the DISCOUNT over 60 cents ... so right around  5%... will know better tomorrow when they update the NAVs and such.