North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

Financial Services Asset Management

North American Financial 15 Split Corp. is a 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, the amount of which is fixed on an annual basis 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

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Post by Clarke123on Jan 30, 2024 4:12pm

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Post# 35853498

Closing NAV: 15.09 Jan 30th

After accounting for pref dividend, I see closing NaV around 5.09. If it can hold this for some time, official dividend announcement would come out in Feb.

At 4.66, it's almost a 10% discount. Dividend used to be 11.335 cents, and if restored it amounts to 29% annualised dividend at current price. That's what it's going to cost short positions from now on.. 29% annualised.

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