North American Financial 15 Split Corp T.FFN

PULCAN invest $25k in FFN dividend

[pulcan]

Hi all,  I picked up $25k worth of shares last week on the dip. These are all the top banks in North America with a .1257 cents dividend monthly with a DRIP.  I had to take advantage of the share price as they hammered it big time last two weeks. This is a good bet on a comeback price above $5.  There is no dividend until we hit the $15 NAV, but with the price being around $4 and the markets coming back this is a good shot at $5 or $6. Remember no more service fees being paid out so this is better for shareholders.

[pandsca]

In the post above, the isolated part confuses me a lot. My son owns exactly this "North American Financial 15 Split Corp - Class A" stock and has been collecting monthly DIVs on this every month for the last year+. I've read many posts indicating that there is no DIV until we hit the $15 NAV, yet I look at my sons monthly DIVs come in steadily. This confuses me. I've read

[mouserman]

Well somebody is lying here, and its not the longtime posters here. Here is a cut form SW which clearly shows FFN commons have not received a distribution. Perhaps your son has preferred shares. THEY ALWAYS get paid. Here is the SW data going back 2 years, you can clearly see FFN have missed several  monthly common share distributions. Dividends - FFN Help

[PileOfShit]

This post has been removed in accordance with Community Policy

[pandsca]

Thanks for the clarification everyone who chimed in. To set the record straight, my Son's account shows the stock as the Class A stock in name, but the details expose that it is the PRA.A stock. Yup, he did get the May payout around mid-May, but he also - just today - got a letter in the mail stating the DIV will stop in as of July. In the end, I'll pass this stock and will pick up DFN