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

<< Previous

Bullboard Posts

Next >>

Post by mousermanon Oct 10, 2023 5:09pm

239 Views

Post# 35677746

FTN unit nav to OCT 10 = approx; $15.99

So holdings did back off a bit later in the day, and so the value of the commons today would be about $5.99.
The premium then would be below 51 cents, with the close @ $6.50
That equates to a very low 8.5%, despite having the highest yield of those that are paying, by quite a bit. Currently @ 23.1%
Not sure how lonmg they will be able to sustain that level, given the high payouts to come starting in dec. @ over 20 cents monthly.

<< Previous

Bullboard Posts

Next >>

Gold, growth and sustainability in focus for Mandalay Resources