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 > Can anyone explain how this stock can pay

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Comment by KozmoTon Jan 05, 2024 4:03pm

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Post# 35813087

RE:RE:RE:RE:Can anyone explain how this stock can pay

I have a few "high risk" stocks but none of them pay dividends. I have a good number of low risk stocks but they pay dividends between 5 and 9%. I guess I can't see what the risk is but I can't seem to square that with a 19% dividend. I note that FTN has been around for a couple decades and has traded much higher than where it is now. So either the shareprice goes up and the divie drops a bit or the shareprice stays put and so does the divie. Seems a win-win to me except for the whole "too good to be true" thing.

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