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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 Jan 12, 2024 10:58am
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Post# 35823599

NAV @ 10:51 am

NAV @ 10:51 am~$14.62. Discount on capital shares: ~$0.43. We are ~2.66% below the payment threshold.

A very strong open quickly turned negative. Only JPM, on strong earnings, is positive. Other U.S. bank releases are all being perceived negatively. It would now take a miracle to get a dividend announcement next week. This has been more of a capital gains story than a dividend play for a long time.
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