Financial 15 Split Corp. Reinstates Class A Dividends, Declares Preferred Share Dividend
December 07 2020 - 4:27PM
Financial 15 Split Corp. ("Financial 15") is pleased to announce it
has reinstated Class A share dividends at a monthly distribution
rate of $0.1257 for each post-consolidation FTN Class A share
($1.5084 annually) and declares $0.05625 for each FTN.PR.A
Preferred share ($0.675 annually). The current rate for the Class A
shares of $1.5084 is a post-consolidation yield of 17% based on
Friday’s pre-consolidation closing price of $3.65. This is an
increase in the dividend for the Class A shares from previous
guidance. Distributions are payable January 8, 2021 to shareholders
on record as at December 31, 2020.
Since inception Class A shareholders have
received a total of $20.53 per share and Preferred shareholders
have received a total of $9.08 per share inclusive of this
distribution, for a combined total of
$29.61.
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:
Class A Share (FTN) |
$0.12570 |
|
|
Preferred Share (FTN.PR.A) |
$0.05625 |
|
|
Ex-Dividend Date: |
December 30, 2020 |
|
|
Record Date: |
December 31, 2020 |
|
|
Payable Date: |
January 8, 2021 |
Certain statements included in this news release
constitute forward-looking statements, including, but not limited
to, those identified by the expressions “expect”, “intend”, “will”
and similar expressions to the extent they relate to the Company.
The forward-looking statements are not historical facts but reflect
the Company’s current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations. Although the
Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. The
Company undertakes no obligation to update publicly or otherwise
revise any forward-looking statement or information whether as a
result of new information, future events or other such factors
which affect this information, except as required by law.
Commissions, trailing commissions, management fees and expenses all
may be associated with mutual fund investments. Investors should
read the prospectus before investing. Mutual funds are not
guaranteed, their values change frequently and past performance may
not be repeated. Please read the Company’s publicly filed documents
which are available at www.sedar.com.
Investor Relations:
1-877-478-2372
Local: 416-304-4443
www.financial15.com
info@quadravest.com
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