Bullboard - Stock Discussion Forum 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... see more

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TSX:FFN - Post Discussion

North American Financial 15 Split Corp > FFN unit nav to June 14 = approx; $15.40

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Post by mouserman on Jun 14, 2024 5:35pm

FFN unit nav to June 14 = approx; $15.40

So at the end of trading today, the Spreadsheet showed a loss of just over 46 cents... SO value of the commons would be $5.40 .. and it certainly appears they made the distribution cut quite easily. Not sure why the selling was so aggressive.. Must belive the selloff is going to continue for the rest of JUNE... Last sale @ $5.23 leaves the premium at about 17 cents.,, and would be close to NAV if the distributions were taken off. But we have a long way to go until the end of JUNE...when they go ex-divvy.

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Comment by Teddyboy11 on Jun 14, 2024 5:51pm

Always appreciate your posts mouserman. Can you confirm that todays NAV will be used to determine this months Div payout ?

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Comment by mouserman on Jun 15, 2024 1:27pm

I cant confirm that .. as Quadravest has been known to use different dates for some of the split funds.. but in all the time i have been trading and following these, they generallly use the 15th of the month unless it lands on a weekend. In most cases they use the last trading day before the 15th. The way this market is trending, i suspect they will definitely use friday the 14th close.

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