Post by
mouserman on May 03, 2023 4:56pm
Stacking the FFN preferreds here.
Nice to get overe 8.15% distribution rate at current levels... adn know that by fall of 2024 i wil also get 10$ for every share , on the termination date of the fund. Much better than the return in FFN common shares. Those are super overvalued with little chance of returning to getting distributions in the near future.
Comment by
alkhor on May 04, 2023 11:29am
Why would the preferreds be worth $10 at termination? Won't they just advance the termination date by 5 years and values remain where the were.
Comment by
navgod on May 04, 2023 11:40am
You get the option of retracting the pref at par ie. $10 with a month's notice before the Termination/Extension Date.
Comment by
mouserman on Jun 13, 2023 3:18pm
NAVGOD is da man. He has given us the headsup about this retraction option more than a few times, and highlighted some of those particular moves he has made. I am in FFN.pr.a for a smaller position, ( at a lower price) but would like it to fall back so I can get more again...
Comment by
primo105 on May 05, 2023 10:04am
I am right here with ya! I hope we are right, I am always nervous we are missing something as the return seems to good to be true!