Financial 15 Split Corp T.FTN

Alternate Symbol(s): FNNCF | T.FTN.P.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.

TSX:FTN - Post by User

Financial 15 Split Corp

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Post by mousermanon Jun 09, 2023 2:21pm

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Post# 35488930

FTN has more preferreds out than commons

Had a quick look on stockwatch to see how the atm program was working. Appears not a lot of buying at the market , on the commons, but perhaps some are looking at preferreds as a good deal if you can get a pile at one time... Certainly not anything like DFN ,which explains how the commons get such a huge premium.
At last count DFN commons have 118,909,000 shares out , and preferreds only 115,082,000 out.
Over 3.8 million more commons..., and that is what happens when naive investorss believe DFN will always keep paying. No problems buying thru the ATM at a 40% + premium there...

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