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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

Comment by waltertorontoon Feb 10, 2023 3:53pm
123 Views
Post# 35280550

RE:Why the large drop in share price today?

RE:Why the large drop in share price today?FFN has been very volatile recently. In general split share companies pay out on capital shares when their NAV exceeds $15. If their monthly payout is ten cents, their yields tend to be 20% or higher, as is the case for FFN. If the NAV looks like it is likely to drop below $15>> no monthly payout>> zero yield >> excessive drop in share price. I only have  a minor position in FFN, feel safer in FTN and DFN with close to 15% yield, and BK which is committed to a 15% yield and less volatile.
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