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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 company. The Company’s investment objectives with respect to the preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in an amount fixed by the board of directors on an annual basis. Its investment objectives with respect to the Class A shares are to provide holders of Class A shares with regular monthly cash distributions, in an amount to be determined by the board of directors; and to permit such holders to participate in all growth in the net asset value of the Company above $10.00 per unit, by paying such holders, on or about the termination date, such amounts as remain in the Company on the termination date after paying the preferred share repayment amount to the holders of the preferred shares. It invests in a portfolio consisting of 15 financial services companies made up of Canadian and United States issuers. Its investment manager is Quadravest Capital Management Inc.


TSX:FTN - Post by User

Bullboard Posts
Post by amugsgameon Mar 03, 2020 8:05pm
113 Views
Post# 30763348

March distribution clarification

March distribution clarificationThe February distribution that has been declared will be paid on March 10 - that's a given. But if you don't know how most split funds work (generally distribution to the "A's" cut off under a NAV of $15) then do yourself a favour and learn tonight because tomorrow may be a shock to you if you're still long FTN. If the market continues this slide and FTN is still underwater mid month then the SP could drop down to the low/mid $4's -  just look at DF which actually has a higher NAV.    
Bullboard Posts