Financial 15 Split Corp. has announced:
its regular monthly distribution of $0.1257 for each Class A share ($1.5084 annually) and $0.04375 for each Preferred share ($0.525 annually). Distributions are payable June 10, 2009 to shareholders on record as of May 29, 2009.
This is of interest since the Capital Unit Dividend was suspended in December; therefore capital unitholders received no distributions for the five months from December to April inclusive, which has avoided the reduction of NAV by about $0.62.
The NAV on May 29 was $15.91 on May 29, according to the company.
FTN.PR.A is tracked by HIMIPref™ but has been relegated to the “Scraps” index due to credit concerns. It was last mentioned on PrefBlog when DBRS downgraded it to Pfd-4 in February as part of a mass downgrade of SplitShares.
This entry was posted on Saturday, June 13th, 2009 at 4:11 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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FTN.PR.A Reinstates Capital Unit Dividend
Financial 15 Split Corp. has announced:
This is of interest since the Capital Unit Dividend was suspended in December; therefore capital unitholders received no distributions for the five months from December to April inclusive, which has avoided the reduction of NAV by about $0.62.
The NAV on May 29 was $15.91 on May 29, according to the company.
FTN.PR.A is tracked by HIMIPref™ but has been relegated to the “Scraps” index due to credit concerns. It was last mentioned on PrefBlog when DBRS downgraded it to Pfd-4 in February as part of a mass downgrade of SplitShares.
This entry was posted on Saturday, June 13th, 2009 at 4:11 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.