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North American Financial 15 Split Corp (2)
Symbol FFN
Shares Issued 52,522,863
Close 2022-09-19 C$ 4.48
Recent Sedar Documents

N.A. Financial 15 to pay 5.625-cent distribution Oct. 7

2022-09-20 16:02 ET - News Release

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 5.625 cents for each preferred share (67.5 cents annually). Distributions are payable Oct. 7, 2022, to shareholders on record as at Sept. 30, 2022.

There will not be a distribution paid to the Class A shares for Sept. 30, 2022, 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 $15.00.

Since inception Class A shareholders have received a total of $15.70 per share and preferred shareholders have received a total of $9.78 per share inclusive of this distribution, for a combined total of $25.48.

The company invests in a high-quality portfolio consisting of 15 financial services companies made up of Canadian and United States issuers as follows: Bank of Montreal, The 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, Great-West Lifeco, 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):  5.625 cents

Record date:  Sept. 30, 2022

Payable date:  Oct. 7, 2022

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