Bullboard - Stock Discussion Forum Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75... see more

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TSX:FTN - Post Discussion

Financial 15 Split Corp > FTN unit NAV to AUg 23 = APProx: $18.21

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Post by mouserman on Aug 23, 2022 10:32pm

FTN unit NAV to AUg 23 = APProx: $18.21

So that values the commons @ 8.21 before distributions. Last trade @ 9.58 means a premium of $1.37, which worked out to 16.68% and was of course ripe for an offering.
After distributions of 18 cents ( to commons and preferreds) the premium jumps up to 19.3%

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Comment by pjn0987654321 on Aug 24, 2022 8:35am

Offering closes "on or about" Aug 31. The new commons and preferreds may not be in time for this month's distributions. Ex-div is Aug 30.

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Comment by navgod on Aug 24, 2022 9:24am

If the offering closes on or before the 31st buyers will receive the divi -- ex divi date has to be adjusted for the 2 day settlement. GLTA

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Comment by pjn0987654321 on Aug 24, 2022 10:21am

Do you know if Quadravest gets the money overnight or if they have to wait until the 31st?

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Comment by navgod on Aug 24, 2022 10:26am

They don't see the funds till the settlement date.

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Comment by RusticHit on Aug 24, 2022 10:45am

banks getting creamed recently yesterday BNS today RY and Bns again Nav will keep going down this could go under 9 if banks and Market keep going down otherwise 9 -9.30 range

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