Financial 15 Split Corp T.FTN

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

Financial Services Asset Management

Financial 15 Split Corp. is a mutual fund company. The Company’s investment objectives with respect to the preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in an amount fixed by the board of directors on an annual basis. Its investment objectives with respect to the Class A shares are to provide holders of Class A shares with regular monthly cash distributions, in an amount to be determined by the board of directors; and to permit such holders to participate in all growth in the net asset value of the Company above $10.00 per unit, by paying such holders, on or about the termination date, such amounts as remain in the Company on the termination date after paying the preferred share repayment amount to the holders of the preferred shares. It invests in a portfolio consisting of 15 financial services companies made up of Canadian and United States issuers. Its investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp > Last trade was $7.72

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Comment by mousermanon Jan 22, 2024 6:37pm

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Post# 35839882

RE:RE:Last trade was $7.72

FatTraderDude01 wrote: this is a little less than half the premium that DFN currently has???

What premium% is healthy for FTN currently?

Actually DFN has a premium of about 5 % before distributions, and FTN has a premium of 4.5%. BUT the big difference is FTN will still have 2$ of safety over the 15 $ threshhold after paying out distributions, and DFN will be below the level for distributions to commons AFTER paying out distributions.

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Corus reports Q1 profit drop in the face of falling revenue