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 > Appears FFN preferreds may go a little lower in December

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Post by mouserman on Sep 18, 2024 4:39pm

Appears FFN preferreds may go a little lower in December

I am not sure about the exact amount of the distribution, but I suspect its going to be close to what DF and DFN are getting raised to..

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Comment by CDNINV1 on Sep 18, 2024 4:43pm

The new monthly rate should be 7.292 cents or 87.5 cents per year

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Comment by Markyp on Sep 18, 2024 5:36pm

I was confused by the news is it going up or down? Ithe minumum is going up? But the amount is going down? If it's going down why would they be pleased? Toronto, Ontario – September 18, 2024 / Globe NewsWire: North American Financial 15 Split Corp. (the “Company”) is pleased to announce that the minimum annual dividend rate for the Preferred Shares will increase to 7.00% from 5.5% for the ...more

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Comment by mouserman on Sep 18, 2024 5:45pm

Every 5 years they reset the preferred rates. But once yearly they can change the amount if the prevailing FED rate is reduced. I do believe it will go down a bit, and that makes the payout a little more affordable if it drops a half a penny monthly or something close.

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