Financial 15 Split Corp T.FTN

Prefered Share Rate Reduction

[dannodotcom]

As per the news release on Sept 18, 2024, the monthly payout will be reduced from .077083 to .07083, starting with the December dividend which is paid on Jan 10, 2025. Does anybody have concerns that the share price could drop closer to $10 after ex-div on Nov 29? Same goes for FFN.PR.A

[WattDoINo]

The market doesn't seem to be worried. Since the anouncement Sept 18, the FTN.pr.a share price increased from $10.39 to $10.58.  While FFN.pr.a went from $10.23 to $10.61. My concern, if any, and if warranted, is that for the FFN.pr.a  may be partially reverse split like in 2019 (1: 1.13) to align the # of commons shares and # of preffred shares after having paid market

[mouserman]

Yes surprised that the preferred have jumped up so much. I was involved in  these  FFN shares back then in 2019.. i thought the preferred were below or around 10$ at the time they needed to be surrendered for retraction.. of course covid happened right after and produced a buying zone we will likely never see again.

[WattDoINo]

Based on Quadravest archives, it appaers that the commons/ A shares partially reverse split (1:13) to consolidate/align # of commons/A and # of preffered shares back on dec 30th 2019, not the preffered. https://03fd212c-7b45-4409-b290-698c20089de1.filesusr.com/ugd/78f11d_0b93c7cdf3a54342a7cbdae8e08b610d.pdf To my defence Investing.com shows a revrse split for both the commons/ A shares and the

[flamingogold]

Surprised as well. I hold the prefs only for the stable distribution and the gains are gravy on top. I am wondering if the threat of returning inflation and rising treasuries is boosting the share price in anticipation of a rising yield here next year.

[flamingogold]

Correction, I hold FFN prefs but the runup is similar and likely for the same reason.

[mouserman]

I bought the preferreds back at around $9.45 average , but sold before the  fall at about  the $ 10.15 area.. and got back into LFE , LCS ,FTN and FFN  to name a few. ALL have done really well for me.. and no regrets on selling the preferreds. Have gone to cash a few times, but am easily able to get back in for distributions before ex divvy dates , and can buy back cheaper once in a

[flamingogold]

Ture, don't fall in love with any stock but I would also say it's vital to stay invested. I have read posts over the years of people that try to time a market and go to cash and then... never get back in at less than what they sold for. Look at the post election market. The consensus was a big selloff. Never happened. There are some who can beat the market but for most it's a losing