Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 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 over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp > FTN unit nav to AUG 21 =approx:$16.61

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Post by mousermanon Aug 21, 2023 8:22pm

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Post# 35599003

FTN unit nav to AUG 21 =approx:$16.61

So spreadsheet is showing a loss of about 27 cents since the update on the 15th... and so the commons would have a value of $6.61. Last trade @ $8.71 equates to a premium of about 31.7%.
Yield is now up near 17.3% at this level, if it pays all year.
After distributions of 19 cents the premium would be a few % higher.

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