FFN.PR.A: Capital Units Dividend Suspended

Financial 15 Split II Corp. has announced:

its regular monthly distribution of $0.04375 for each Preferred share ($0.525 annually). Distributions are payable March 10, 2010 to shareholders on record as at February 26, 2010. There will not be a distribution paid to Financial 15 II Class A Shares for February 26, 2010 as per the Prospectus which states no regular monthly dividends or other 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 net asset value as of February 12, 2010 was $14.78.

The capital unit dividend was also suspended from November 2008 to July 2009, inclusive.

FFN.PR.A was last mentioned on PrefBlog when it was upgraded to Pfd-3(low) by DBRS. FFN.PR.A is tracked by HIMIPref™, but is relegate to the Scraps index on credit concerns.

One Response to “FFN.PR.A: Capital Units Dividend Suspended”

  1. […] was last mentioned on PrefBlog when the capital unit dividend was suspended in February (it was reinstated in March). FFN.PR.A is tracked by HIMIPref™, but is relegated to the […]

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