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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
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Post by mousermanon Aug 24, 2022 4:54pm
287 Views
Post# 34918152

FTN unit NAV to AUg 25= approx: $ 18.12

FTN unit NAV to AUg 25= approx: $ 18.12So did up the spreadsheet  and FTN has  lost 63 cents off the UNIT NAV as reported @ AUg 15.
So that values the commons at $8.12 before distributions , which would give a premium  of about 13%.
 However after you take off the upcoming payments to preferreds and commons, the UNIT NAV then drops to $17.94 and the premium jumps to 15.3%. Not a bad entry point if you believe the banks will bounce back. Yield annually at this level for buying  commons would be about 16.45%
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