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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 alkhoron Nov 22, 2020 8:00pm
394 Views
Post# 31949907

RE:RE:RE:RE:RE:RE:Class A Share Consolidation

RE:RE:RE:RE:RE:RE:Class A Share ConsolidationEasier way to think about it. Before when they paid a divvy if you had 1000 shares you got $125.70 a month. Now with the consolidation you have 400 shares so you will now get $40 a month. This works out to a 4 cent a month divvy based on the preconsolidated shares, or a 68% haircut.

I previously stated a 5 cent divvy but I was mixing up my DFNs and FFNs. Reality is the Class A shareholders are only going to get a third of what they got previously when they were actually paid but at least now they will be getting something.
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