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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 > Regarding FFN Preferred Shares Dividend
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Comment by Splitfundingon Oct 02, 2024 6:32pm
120 Views
Post# 36250790

RE:RE:RE:Regarding FFN Preferred Shares Dividend

RE:RE:RE:Regarding FFN Preferred Shares DividendSeems you were right, I give you full credit for that. This it the first time in history that the preferreds have seen a reduction in their monthly rate, I was even making future retirement plans based on the expected income I'd be getting at 9.5% now this reduction alone reduces my yearly income by about 6k, with the potential of a future reduction to just 7.0% Guess I shouldn't have been surprised once the Fed's decided they were going to start cutting aggressively...
Quadravest probably thinks the product will still be desirable enough at 8.75% but I disagree and they will almsot certainly be losing my business. I will be buying VFV.TO instead on the next dip whenever that happens, 8.75% is getting just a little too far away from the sp500's 11-12% historical yearly average for my tastes.
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