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 > Is this and other Quadravest investments a dividend trap?

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Comment by chessplayeron Jun 21, 2022 2:28pm

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Post# 34771967

RE:Is this and other Quadravest investments a dividend trap?

I think you should do a bit of research on split shares before dipping any further. In this case, I hope you understand that this stock will not pay any distribution before the NAV reaches 15$ and that currently you would be paying a premium to the real value of the shares that compose the portfolio. If I were I would look at splits that pay distribution and that are trading at a discount to NAV such as bnk.

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