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

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Post by mousermanon Feb 28, 2022 12:46pm

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Post# 34468165

FTN realtime unit nav = approx: $21.50

So with the last trade at $12.05 here, FTN is now getting a premium, likley because of the safety factor and a locked in distribution rate.
After distributions the Commons NAV would be approx: $11.32 at this point in time.
6.4 % premium after distributions.
Not an unreasonable valuation in a good market, BUT its really not what we are seeing.

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