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 > FTN unit nav no gain today, ended the day flat.

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Comment by oldbrit34on Feb 17, 2024 9:19am

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Post# 35885688

RE:FTN unit nav no gain today, ended the day flat.

It is unusual to see these three things together in a split. First the high safety margin. Secondly the 19.9% dividend yield and thirdly the very low premium ie 1.7%. Its high holdings of banks will probably keep the price subdued until inflation and lower interest rates are evident. When these latter two are under control perhaps people will be wishing they bought FTN at $7.70.

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