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North American Financial 15 Split Corp T.FFN

Alternate Symbol(s):  FNCSF

North American Financial 15 Split Corp. is a 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, the amount of which is fixed on an annual basis 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

Comment by pandscaon Jun 28, 2022 2:19pm
253 Views
Post# 34788189

RE:PULCAN invest $25k in FFN dividend

RE:PULCAN invest $25k in FFN dividend

pulcan wrote: Hi all,  I picked up $25k worth of shares last week on the dip. These are all the top banks in North America with a .1257 cents dividend monthly with a DRIP.  I had to take advantage of the share price as they hammered it big time last two weeks. This is a good bet on a comeback price above $5. 

********  There is no dividend until we hit the $15 NAV  ********

, but with the price being around $4 and the markets coming back this is a good shot at $5 or $6. Remember no more service fees being paid out so this is better for shareholders.

In the post above, the isolated part confuses me a lot.

My son owns exactly this "North American Financial 15 Split Corp - Class A" stock and has been collecting monthly DIVs on this every month for the last year+.
I've read many posts indicating that there is no DIV until we hit the $15 NAV, yet I look at my sons monthly DIVs come in steadily. This confuses me.

I've read though all kinds of blog posts and sales junk that make Split stocks nothing but confusing - clearly obfuscated so only bean counters could desipher it.

Can someone please tell me in clear simple text why people are posting that this stock is not issuing a DIV when I see first-hand DIV payment coming in every month in my son's account.

I want to $50K+ of this year alone, but this point is confusing me, so I'm hesitant.

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