Financial 15 Split Corp T.FTN

Updated just the US holdings

[mouserman]

And that added another 22 cents in losses to the UNIT NAV... CAD banks etc. that trade on the US exchanges also were down...

[Golferman]

Mouserman ..... is it then correct that the NAV for FTN is now $7.45 for the commons. 

[Snasna102]

So I'm kinda new here but following FTN for a bit and want to build a position.  I see yours and mouserman's comments and look for them daily. Can I just ask what's the difference between NAV before and after distribution. I know we need the NAV above 15, but unit NAV is $7.45. What would the requirement be for the Unit NAV be to still be able to payout the dividend? sorry

[bikipal]

Welcome to FTN... NAV above 15 is combining both the Preffered and Common Shares of the Split Stock. Usually to come to the Common Shares unit nav $7.45 number... the Preffered share amount $10 is removed from the total NAV.  NAV before and after distribution. Since the distribution removes the cash from the Split Share Fund, the value of the fund decreases the same amount as long as the

[Snasna102]

Thank you guys so much for the clarification. Will be following closely and increasing my position.

[mouserman]

THE  UNIT NAV is $17.20 or so at best today, and the UNIT NAV must be above 15$ on the midmonth calculation date to pay to commons shares of FTN. FTN will easily pay again this month, but if this crash continues next month is not a given. Early indications are that the US banks will bounce back , but likely not to the level seen on friday.