Us Financial 15 Split Corp T.FTU

Alternate Symbol(s): T.FTU.PR.B

US Financial 15 Split Corp. is a mutual fund company. The Company invests in an actively managed portfolio of common shares composed primarily of 15 core large capitalization United States financial services companies. The Company’s objectives in managing its capital are to provide holders of Preferred shares with a cumulative preferential monthly dividend at an annualized rate of 10% based on the net asset value per unit as at the end of the preceding month, subject to a maximum monthly dividend of $0.08333 per Preferred share and to pay holders of Preferred shares $10 per Preferred share on or about the termination date. Its objective in managing its capital also is to provide holders of Class A shares with such dividends as the directors of the Company may from time to time determine and to pay on the termination date such amounts as remain after paying the holders of Preferred shares the amounts owing to them. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTU - Post by User

Us Financial 15 Split Corp

Bullboard Posts

Comment by YellowBrickRoadon Dec 16, 2018 5:24pm

111 Views

Post# 29121782

RE:Slowly bleeding...

Bobmartin166 wrote: So this thing is slowly bleeding. Any chance it will go back up once the new dividend starts?

There will be a share rebalancing on Dec. 18:

Immediately after the special retraction payment on December 17, 2018, there will be 1,901,817 Preferred shares and 2,804,666 Class A shares outstanding. In order to restore an equal amount of shares outstanding for each class, Class A shareholders on record as at December 18, 2018 will receive approximately 0.678090368 Class A shares for each Class A share outstanding. The consolidation is a non-taxable event.

The number of Class A shares will drop by one third and the market cap will drop from $24m to $14.7m. The consolidation will put the Class A shares further underwater than they have been recently.

= = = = = = = = = = = = = = = = = = = = = = = = = = = =

For a comparison of Split Share Funds, see this blog:

Link: Split Share Review

Bullboard Posts

Advancing flagship Ishkõday Gold Project in Ontario