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Financial 15 Split Corp T.FTN

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

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 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 over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.


TSX:FTN - Post by User

Financial 15 Split Corp
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Post by mousermanon Sep 27, 2024 5:03pm
185 Views
Post# 36244739

FTN UNIT NAV to Sept 27 = approx; $18.64 after dist.

FTN UNIT NAV to Sept 27 = approx; $18.64 after dist.So the gain in UNIT NAV  was  47 cents since mid Sept. update. So commons would be valued at about $8.64 today at the close AFTER distributions are factored in. Much prefer FTN over BK  as they have exposure to the lifecos are discounted  and have a few %  higher yield. Whether they can stay up at these levels is another story. When the market finally decides to head lower those big distributions may be  thorn in their side.
Last sale today on FTN was @ $8.35  so about a 29 cent DISCOUNT.
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