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 > NAV

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Comment by Eoj123on Jan 24, 2023 6:59pm

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Post# 35243668

RE:RE:NAV

flamingogold wrote: BK overnight offering just announced. I though DFN would be next to get one given the large premium to NAV. It's certainly on the radar.

kurtwalter wrote: The 24% yield is certainly attractive, but the NAV may have already dropped below the $15 cutoff point for dividend payments. The US banks and insurance companies are quite volatile. I think I'll just stick with the three 15% yielders with healthier NAVs: BK, FTN, and DFN,

Correct me if I'm wrong, but with DFN wouldn't the preferreds need to be trading over $10 in order for a financing to be accretive?

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