Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 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 over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp > FTN unit NAV $17.72 to June 28

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Post by mousermanon Jun 28, 2022 5:42pm

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Post# 34788832

FTN unit NAV $17.72 to June 28

FTN has lost about 20 cents since the mid-month update and so the commons would now have a value of $7.72 before distributions. After distributions to preferreds and commons of about 18 cents ... the commons would then carry a value of$ 7.54. Ex divvy date tomorrow so TD adjusts the value of the commons as the open tomorrow.
SO the premium after distributions on the common shares would be about $1.98 at the close today. That works out to about 26%.

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