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 > FFN unit nav to JULY 29 = approx: $14.25 before dist.

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Post by mousermanon Jul 29, 2022 5:17pm

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Post# 34861267

FFN unit nav to JULY 29 = approx: $14.25 before dist.

So common shares of FFN would have a value of about $4.20 after the preferreds are paid. Buyers today bought it up to price where it is trading at a premium. Obviously they are rose-colored glasses crowd, who believe the WORST is over and only up from here.
At the close of $ 4.45 today the premium for FFN commons is about 6 %.

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