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 > Distribution increase kicking in on prefs

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Comment by flamingogoldon Nov 24, 2023 9:47am

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Post# 35751324

RE:Distribution increase kicking in on prefs

I was too early to post this, the Prefs still have one more distribution at the old lower rate before the increase takes effect.

flamingogold wrote: Just a reminder that anyone who holds this now will see their distribution bump up from .06458 to .07917 / share. And, if interest rates decline at all in 2024 we should see share prices tick up as investors begin to bail out of GIC/money market funds into the higher yield here.

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