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.

TSX:FFN - Post by User

North American Financial 15 Split Corp > Dashboard shows UNIT NAV @ $17.08

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Comment by mousermanon Oct 17, 2024 11:53am

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Post# 36270066

RE:RE:Dashboard shows UNIT NAV @ $17.08

maxjac wrote: Dashboard showing 17.08 too once the data from 4pm came in for the US holdings. I wonder, what was the all-time NAV high since inception? Does anyone know?

You have to take into account the consolidation 5 years ago.. altho they rasied the distribution amount for the commons, you lost about 10% on the shares.

Immediately after the special retraction payment on or before December 16, 2019, there will be 16,552,263 Preferred shares and 18,761,656 Class A shares outstanding. In order to restore an equal amount of shares outstanding for each Class, Class A shareholders will receive approximately 0.882238913 Class A shares for each Class A share. In addition the monthly Class A share dividend will be increased from a targeted 10

cents per share ($1.20 per annum) to 11.335 cents per share ($1.3602 per annum) in order to maintain the same pre consolidation dividend rate.

SO if you have 10,000 shares back then, you got reduced to 8,823 appro:

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