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.

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North American Financial 15 Split Corp > NAV March 31

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Comment by mousermanon Mar 31, 2023 5:15pm

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Post# 35372855

RE:NAV March 31

The UNIT NAV will have decreased by 6.45 cents on ex-dividend date to account for the preferreds, which always get paid. Yield on those now is approaching 8.25%,annually, buying at todays price. I do believe we may see another consolidation on FFN, as the number of commons is again over 1.3 million higher that the preferreds. Especially if the US banking sector gets another scare like SVB , Credit Suisse etc... Probably will have to happen in advance of the redemption date.

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