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 to AUg 23 = APProx: $18.21

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Post by mousermanon Aug 23, 2022 10:32pm

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Post# 34915984

FTN unit NAV to AUg 23 = APProx: $18.21

So that values the commons @ 8.21 before distributions. Last trade @ 9.58 means a premium of $1.37, which worked out to 16.68% and was of course ripe for an offering.
After distributions of 18 cents ( to commons and preferreds) the premium jumps up to 19.3%

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