Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.P.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 > FTN unit nav to April 22 = approx: $18.14

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Post by mousermanon Apr 22, 2024 4:56pm

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Post# 36002106

FTN unit nav to April 22 = approx: $18.14

Spreadsheet now showing a gain of about 34 cents since the 15th of April update.
Before distributions the common shares of FTN would be trading at a discount of 12 cents , as the last sale today was $8.02... i was buying some there. Sold my FTN preferreds @ $10.20 and a nice gain, but with the ex divvy date just a week away or so, FTN looks a lot tastier at these levels.
Would have been higher UNIT NAV had the CAD not gained and finished the day @ 73 cents US.

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