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 > Looking at investing in this Holding

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Comment by JohnWalkeron Apr 25, 2022 4:46pm

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Post# 34630256

RE:RE:RE:Looking at investing in this Holding

navgod wrote: The "dividend" is not income but a return of capital.

I don't know how much will be Return of Capital this year, we can't know until the end of the year. But I filed taxes for 2021 and my T5 for FFN showed that dividends last year were 100% Eligible Dividends. There was NO Return of Capital.

For the record, I do not hold any FFN now (short or long) and if asked I would not advise holding FFN the current premium of price vs NAV.

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