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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North American Financial 15 Split Corp > FFN unit nav to June 28 = approx; $15.78

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Post by mouserman on Jun 28, 2024 4:33pm

FFN unit nav to June 28 = approx; $15.78

So the spreadsheet is showing a gain of 35 cents since the update midmonth. 4 of the holdings went exdivvy since the midmonth udpate.... CM , NA ,FITB and CIX. 3 of them today.
Value of the common shares after distributions are paid would be $5..59.. and with the last trade @ that exact number.. it means FFN commons are trading right at par value. 24.33% would be the annual yield if it can continue to pay it until a year from this date.
JPM , C and MFC were the 3 biggest gainers in the holdings. Those 3 accounted for over half of the 35 cent gain.

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Comment by CDNINV1 on Jun 28, 2024 5:06pm

I have the same closing unit nav of $15.78. I also included USB which I believe went ex-div also today. Exchange rate used was 73.08 cents

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Comment by mouserman on Jun 29, 2024 7:34pm

Ah yes , corrected the spreadsheet and it went from just below $15.78 to just above... small holding and did not make too much of a difference. But nice there were actually 5 of the holdings going ex divvy in the last 2 weeks.

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North American Financial 15 Split Corp