{"id":47371,"date":"2024-09-18T22:08:47","date_gmt":"2024-09-19T03:08:47","guid":{"rendered":"https:\/\/prefblog.com\/?p=47371"},"modified":"2024-09-18T22:08:47","modified_gmt":"2024-09-19T03:08:47","slug":"ftn-pr-a-resets-to-8-50-for-final-year","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=47371","title":{"rendered":"FTN.PR.A Resets To 8.50% For Final Year"},"content":{"rendered":"

Quadravest has announced<\/a>:<\/p>\n

Financial 15 Split Corp. (the \u201cCompany\u201d) announces that in keeping with current market rates for preferred shares with similar terms, the Preferred Share (\u201cFTN.PR.A\u201d) dividend rate for the fiscal year commencing December 1, 2024 will be set at 8.50% (previously 9.25%). Monthly payments to FTN.PR.A will be $0.07083 per share for an annual yield of 8.50% on their $10.00 redemption value.<\/p>\n

The Company invests in an actively managed, high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows:<\/p>\n

\n\n\n\n\n\n\n
Bank of Montreal<\/td>\n National Bank of Canada<\/td>\n Bank of America Corp.<\/td>\n<\/tr>\n
The Bank of Nova Scotia<\/td>\n Manulife Financial Corporation<\/td>\n Citigroup Inc.<\/td>\n<\/tr>\n
Canadian Imperial Bank of Commerce<\/td>\n Sun Life Financial Inc.<\/td>\n Goldman Sachs Group Inc.<\/td>\n<\/tr>\n
Royal Bank of Canada<\/td>\n Great-West Lifeco Inc.<\/td>\n JP Morgan Chase & Co.<\/td>\n<\/tr>\n
The Toronto-Dominion Bank<\/td>\n CI Financial Corp.<\/td>\n Wells Fargo & Co. <\/td>\n<\/tr>\n<\/table>\n<\/div>\n<\/blockquote>\n

FTN.PR.A has a minimum reset rate of 5.50%<\/a>, commencing in 2020. Actual rates have been, in order, 6.75%<\/a>, 6.75%<\/a>, 7.50%<\/a> and 9.25%<\/a>.<\/p>\n

Thanks to Assiduous Reader niagara<\/i> for bringing this to my attention<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Quadravest has announced: Financial 15 Split Corp. (the \u201cCompany\u201d) announces that in keeping with current market rates for preferred shares with similar terms, the Preferred Share (\u201cFTN.PR.A\u201d) dividend rate for the fiscal year commencing December …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-47371","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47371"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47371\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}