An anonymous director reports

NORTH AMERICAN FINANCIAL 15 SPLIT CORP. REGULAR MONTHLY DIVIDEND DECLARATION FOR PREFERRED SHARE

North American Financial 15 Split Corp. has declared its regular monthly distribution of 7.917 cents for each preferred share (95 cents annually). Distributions are payable Feb. 9, 2024, to shareholders on record as at Jan. 31, 2024.

There will not be a distribution paid to the Class A shares for Jan. 31, 2024, as per the prospectus, which states no regular monthly dividends will be paid on the Class A shares in any month as long as the net asset value per unit is equal to or less than $15.

Since inception, Class A shareholders have received a total of $16.04 per share and preferred shareholders have received a total of $10.82 per share, inclusive of this distribution, for a combined total of $26.87.

The company invests in a high-quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corp., Sun Life Financial Inc., Great-West Lifeco Inc., CI Financial Corp., Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co., and Wells Fargo & Co.

Distribution details

Preferred share (FFN.PR.A):  7.917 cents

Record date:  Jan. 31, 2024

Payable date:  Feb. 9, 2024