North American Financial 15 Split Corp T.FFN

NAV April 05

[AnEducator]

~$13.43. With a closing price of $4.25, the capital shares are trading at a ridiculous $0.83 premium, not taking into account accrued dividends on the preferreds.

[mouserman]

So the update from Quadravest to March 31 @$13.66 unit nav , does take into  the preferreds to be paid on  April 10...i checked out my spreadheet and came to the same number $13.43 but  after distributions to preferreds. Premium is a ridiculous 24% as the commons only have a value of $3.43. Shorts are going to make a pile if they are patient in the upcoming recession. US banking

[EdPaquette]

FFN seems hopeless. Canadian bank tax, USA banks teetering,  summer coming which is weak for financials, this one needs consolidation. 

[AnEducator]

My NAV mathes yours, MM. What I meant was that there is $0.01 accrued to the preferreds since last week which I have not accounted for in calculating the premium being paid for the capital shares.