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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% 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
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Comment by JohnWalkeron Jun 05, 2019 7:32am
80 Views
Post# 29799350

RE:Decision to suspend dividend is based on NAV as of June 15th

RE:Decision to suspend dividend is based on NAV as of June 15th
Mark2099 wrote: They announce dividends usually around the 3rd week of each month so if the announcement is around June 21st, itll be based on NAV as of June 15th. Nav on May 31st after distribution was $14.99 but since May 31st, bank stocks have been going up so the current NAV is probably around $15.35.


Still plenty of time for the markets to drop again. You can't tell from day to day. FTN is still right on the bubble and in NO WAY deserves a 40% premium to NAV.

I'll be looking for a good opportunity to short this between now and the 18th of June.


Bullboard Posts
Dealroom for high-potential pre-IPO opportunities