Bullboard - Stock Discussion Forum 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... see more

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Financial 15 Split Corp > What would trigger them to stop monthly payout dividends?

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Post by stockcurioustsx on Oct 23, 2023 4:20pm

What would trigger them to stop monthly payout dividends?

What would trigger them to stop paying out the class A monthly dividents?

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Comment by dannodotcom on Oct 23, 2023 6:47pm

If the Net Asset Value or NAV gets below $5.00, they will not pay the Class A divy, only the preffered shares divy will be paid. The current NAV is $5.55 according to Mouserman, who is a godsend on this board (and others), as he keeps a running calculation of the NAV. Recommend you go to Quadravest

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Comment by mouserman on Oct 24, 2023 9:45am

Actually the NET asset value of the UNIT ( FTN preferreds +commons) must stay above 15$ for FTN to continue paying to commons after this current month. FTN has already declared the distribution to commons. Preferred shares always get a value of 10$ no matter where they are trading. On termination date of the fund, preferreds holders can submit to redeem their shares for 10$.

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Financial 15 Split Corp