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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 > Class A Share Consolidation
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Comment by mousermanon Nov 19, 2020 11:24am
329 Views
Post# 31932919

RE:RE:Class A Share Consolidation

RE:RE:Class A Share Consolidation
navgod wrote: Well that's one way to get the divi back -- too bad  60% of the shares had to go poof!!  

WELL THIS MAY BE THE START...  FFN next? and of course FTN was  previously paying a ridiculous high  monthly payout of over 12.5 cents monthly when things were only going up. 
Quadravest managers now see that as unsustainable, and have dropped the divvy payout to .10 SO also a 25% reduction in the distribution to commons, while paying more to the preferreds.
FTN preferreds are a better investment imo... 
The cumulative payout each month once this consolidation is done will be over will be 15.6 cents reduced from the previous monthly payout of just over 17.15 cents .

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