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.

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North American Financial 15 Split Corp

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Post by mousermanon May 13, 2022 6:32pm

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Post# 34683181

FFN unit nav to May 13= approx: $14.43

So if indeed Quadravest uses the close on MAy 13 , FFN commons will not be paid. And even if they decide to use Monday, its very unlikely FFN can gain that much in the trading session on Monday.
CAD rose bigtime vs USD today, and so limited the gains in the US based stocks today.
CAD stocks in the fund gained back about 10 cents of the rebound today.
FFN trading at a big premium still , and for sure NOT paying to commons this month.

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