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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
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Post by mousermanon Aug 30, 2022 7:03pm
315 Views
Post# 34931029

FFN unit NAV to AUg 30 = approx: $14.10 after dist.

FFN unit NAV to AUg 30 = approx: $14.10 after dist.So commons would have a value of $4.10 after distributions to preferreds. The last sale was at $4.28  which implies a premium of 18 cents. Not real positive about FFN returning to paying to commons in the near future. Maybe a reverse course by the FED  after they have pushed the US into recession may play into a rebound.
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