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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 > Why does FFN want to buy up to 10% of outstanding shares?
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Comment by mousermanon May 27, 2024 4:29pm
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Post# 36059372

RE:Why does FFN want to buy up to 10% of outstanding shares?

RE:Why does FFN want to buy up to 10% of outstanding shares?Both FTN and FFN have been trading at a discount to their real value, so it makes sense that Quadravest would want to buy back shares at a discount. The less shares out , the less that is paid out in distributions , and that has a positive effect on UNIT NAV.
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