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.

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Financial 15 Split Corp

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Post by mousermanon Apr 29, 2024 11:10am

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Post# 36012660

Ex divvy day... UNIT NAV in realtime FTN @$18.06

I have the unit nav @ $18.06 AFTER all distributions are accounted for, which they will be today.
So trading right at its value, and that seems odd given the 3$ of safety over the 15$ threshhold which is the number needed for distributions to common shares.
Yield is lower than some , which are close to the bubble for paying... but definitely higher than the likes of LBS, SBC and BK , which are also safe financial split funds with a big cushion on the UNIT NAV.

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