Financial 15 Split Corp. Regular Monthly Dividend Declaration for Preferred Share
June 18 2020 - 9:00AM
Financial 15 Split Corp. ("Financial 15") declares its regular
monthly distribution of $0.04583 for each Preferred share ($0.550
annually). Distributions are payable July 10, 2020 to shareholders
on record as at June 30, 2020.
Since the latter part of February 2020,
financial markets have been extremely volatile in response to the
developing COVID-19 pandemic and equity markets in particular have
experienced significant declines. The investment portfolio of the
Company has been subject to these market fluctuations and the net
assets of the Company have been materially negatively impacted. The
net asset value per unit of the Company as at June 15, 2020 was
$12.41. No regular monthly distributions 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. The Company’s investment portfolio
may continue to experience significant volatility as the situation
evolves.
Since inception Class A shareholders have
received a total of $20.40 per share and Preferred shareholders
have received a total of $8.79 per share inclusive of this
distribution, for a combined total of $29.20.
Financial 15 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, The Bank of Nova
Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada,
Toronto-Dominion Bank, National Bank of Canada, Manulife Financial
Corporation, 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
(FTN.PR.A) |
$0.04583 |
Ex-Dividend
Date: |
June 29, 2020 |
Record
Date: |
June 30, 2020 |
Payable
Date: |
July 10, 2020 |
Investor Relations: 1-877-478-2372Local:
416-304-4443www.financial15.cominfo@quadravest.com
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