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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 AnEducatoron May 02, 2023 4:27pm
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Post# 35426036

NAV May 2

NAV May 2~$3.76. Closing premium on capital shares: ~$0.27. 

There can be no consolidation on the capital shares until the termination date of December 2024. Even then, a consolidation will only happen if there are an excess number of capital shares in comparison to the preferreds. This will be determined largely by the market price of the preferreds at that time.
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