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 > BEARS

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Comment by mousermanon Nov 06, 2024 1:57pm

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Post# 36299300

RE:RE:RE:RE:RE:BEARS

FFN unit nav at this point in time, is $18.24 so the safety would be $3.24 above the threshhold for paying to commons. IT is based on UNIT NAV and NOT on the trading price. DO some reading on Quadravest they will explain how last time the preferred /common share balance was out of whack so did a consolidation in late 2019. FFN commons trading around a 15% discount here today.

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