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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Financial 15 Split Corp > FTN unit nav in realtime

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Post by mouserman on Nov 03, 2023 12:11pm

FTN unit nav in realtime

So without knowing where the cash position is, i am estimating the UNIT NAV at $16.09 with a 56 cent gain since the OCT 31 update, even with the USD losing almost
1.5 % vs CAD. Premium would still be very small at this point with the last trade @ $6.28 , only 19 cents. Commons would be valued at about $6.09 after distributions. Premium then is 3 %. Dont think i have seen many splits valued at a 3 % premium when they are over a dollar in safety.
OTHER than LCS of course.

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Comment by es25 on Nov 03, 2023 12:29pm

Hey Mouserman, I been following pic.a which has a similar yield, I don't know the premium. The advantage of this split fund is it has no $15 rule but it pays every 3 months which people don't like.

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Comment by mouserman on Nov 03, 2023 2:48pm

It has not always paid out 20.3 cents Quarterly, they did reduce it to half when the UNIT NAV got too small. Trades at huge premium last time i looked. It pays out about 42 cents a Q to commons and preferreds. The PIC preferreds have a value of 15$ no matter where they trade, and PIC.a commons have a value of only 46 cents. at this time. If they fall another 50 cents the Dist, will be ...more

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