North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It 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 the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price 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 for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.

TSX:FFN - Post by User

North American Financial 15 Split Corp > FFN unit NAV to Nov 23 =$ 17.45 before dist.

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Comment by mousermanon Nov 24, 2021 10:45am

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Post# 34161348

RE:RE:FFN unit NAV to Nov 23 =$ 17.45 before dist.

PileOfShit wrote: To derive class A NAV from combined NAV between dividend declaration and the day before ex-date, we have to subtract not only the preferred NAV, but also the preferred dividend. FFN class A NAV = 17.45 - 10 - 0.056 = 7.39; premium to NAV = 7.62 ÷ 7.39 - 1 = 3.1%.

FFN distribution to commons is .11335 monthly
Premium is .34 /7.28 = 4.67% AFTER both distributions are taken off.

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