RE:Itsalie
NobleHouse wrote: If l may , a few thoughts on FTN , and l am not a Pro.In the industry or a Day trader.I have owned FTN and added since October 2022 and have never not received a dividend unlike some of the other Split shares mentioned by others that have missed , some almost 50% of the time.Yes , no doubt that 24% is enticing till you go 3 or 4 months without , then the anxiety sets in and you told at a loss. Personally l wouldn't touch them with your money , never mind mine. Ftn has missed only 2 payments , and that in the COVID high 3 or more years ago. One thing to consider , they consist of the Big Six in Canada , the most stable in the world , 4 well founded Lifecos and 5 of the best in the USA dispite their wild West show and even though all of them , in the good ol' USA were all instrumental in precipitating the Global financial crisis of 2009. Only Jamie Dymon has survived as a CEO and hopefully those 5 companies learned from the mistakes that caused over leveraged fools like Lehmann , Bear Stearns etc to collapse. If this sector ever collapsed then everybody's portfolio is in the Dumpster.These buy and sell guys , in and out are just Day traders, renters of stock not long term shareholders. While l love the Dividend and FTN at this time l am not a diehard that would not reduce my holdings or gold the hand if circumstances changed for the absolute worse. I rely on Mousermans daily NAVs to keep us all informed as Quadravest is completely useless in that regard and don't seem to care about promoting their wares.I have to question their business competence.However all my divs generated by my 16000 shares are reinvested in FTN.My money where my mouth is.Cheers,and perhaps institute an initial position and see how it goes..
I think you should do a more indepth look into the past of this fund. I belive it missed paying from Apr 2020 to Dec 2020. The only reason it started paying again was a consolidation split where people owning 1000 shares now own 400. If you were to run a comparison between any of the 6 top Canadian banks and FTN from Jan 01 2020 to now you would see how poorly FTN has performed.
Financial 15 Split Corp. to Begin Post-Consolidation Trading Toronto, Ontario – December 17, 2020 / GNW: Financial 15 Split Corp. (“the Company”) announces that its Class A shares will begin trading on a post-consolidation basis upon market open today. Class A shares were consolidated such that each Class A shareholder received 0.40 Class A shares for each Class A share held. The closing trading price of the pre-consolidation Class A shares on December 16, 2020 of $4.14 translates to a price of $10.35 post-consolidation. There is no change to the aggregate intrinsic value of Class A shareholders’ holdings as a result of the consolidation. As announced previously, Class A shareholders of record on December 31, 2020 are entitled to receive a monthly dividend of $0.1257 (targeted at $1.5084 annually), representing a current yield of 14.6% based on a post-consolidation trading price of $10.35. Since inception, Class A shareholders have received a total of $55.00 in distributions per postconsolidation share.