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 > Holy premium

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Comment by Larry50on Dec 09, 2020 8:33pm

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Post# 32073840

RE:RE:RE:RE:RE:RE:RE:Holy premium

Yes, I think it's pretty well understood the share price is scaled up and yes, it's nice to receive any dividend rather than no dividend. When is the price conversion calculated? Lets say the shares convert and the rate at day of conversion is $10. While there is never any guarantee in price direction I think there is a greater risk our new $10 shares will drop back to $8 or $7 than to see them move upwards to $11 or more. Perhaps I'm being pessimistic but there still seem to be many unanswered questions.

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