Financial 15 Split Corp T.FTN

Alternate Symbol(s): FNNCF | T.FTN.PR.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 > FTN unit nav TO OCT 26 = approx: $15.60

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Comment by mousermanon Oct 26, 2023 11:43pm

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Post# 35703463

RE:RE:RE:RE:FTN unit nav TO OCT 26 = approx: $15.60

As far as the yield etc go, FFN.pr.a should already be at 10$. I would imagine it will happen in DEC when the payout gets hiked to 7.917 cents monthly , which is higher than the FTN preferred payout of 7.70 cents monthly.
But at the moment FTN looks safer , with more room above 10$...
If FFN unit nav falls below 10$ , the commons are worthless and another consolidation happens. The preferreds may lose in that deal if the fund gets terminated. Commons would get nothing and the preferreds would get what is left.

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