{"id":48838,"date":"2017-09-29T21:10:00","date_gmt":"2017-09-30T01:10:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48838"},"modified":"2025-07-25T21:11:45","modified_gmt":"2025-07-26T01:11:45","slug":"ftn-pr-a-dividend-rate-raised-25bp-for-one-year","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48838","title":{"rendered":"FTN.PR.A Dividend Rate Raised 25bp for One Year<"},"content":{"rendered":"<p>Quadravest <a href=\"http:\/\/docs.wixstatic.com\/ugd\/78f11d_f3a5e0cf717f4943b508a12cd1dc3c35.pdf\">has announced<\/a>:<\/p>\n<blockquote>\n<p>Financial 15 Split Corp. (the \u201cCompany\u201d) is pleased to announce the Preferred Share dividend rate for the fiscal year beginning December 1, 2017. Monthly payments to FTN.PR.A will be $0.04583 per share for an annual yield of 5.50% on their $10 redemption value. This is an increase of one quarter of one percent over the current rate.<\/p>\n<p>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<table border=\"1\">\n<tr>\n<td>Bank of Montreal<\/td>\n<td>National Bank of Canada<\/td>\n<td>Bank of America Corp.<\/td>\n<\/tr>\n<tr>\n<td>The Bank of Nova Scotia<\/td>\n<td>Manulife Financial Corporation<\/td>\n<td>Citigroup Inc.<\/td>\n<\/tr>\n<tr>\n<td>Canadian Imperial Bank of Commerce<\/td>\n<td>Sun Life Financial Services of Canada Inc.<\/td>\n<td>Goldman Sachs Group Inc.<\/td>\n<\/tr>\n<tr>\n<td>Royal Bank of Canada<\/td>\n<td>Great-West Lifeco Inc.<\/td>\n<td>JP Morgan Chase &#038; Co.<\/td>\n<\/tr>\n<tr>\n<td>The Toronto-Dominion Bank<\/td>\n<td>CI Financial Corp.<\/td>\n<td>Wells Fargo &#038; Co.<\/td>\n<\/tr>\n<\/table>\n<\/blockquote>\n<p>This is a rather peculiar action for them to take, particularly so soon after their <a href=\"https:\/\/prefblog.com\/?p=35451\">recent treasury offering<\/a> and given that the <a href=\"https:\/\/prefblog.com\/?p=25247\">liquidation date for the company is 2020-12-1<\/a> (which the company may extend at will, but only while giving retraction rights to shareholders). I believe we are now in the position of waiting for the other shoe to drop!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quadravest has announced: Financial 15 Split Corp. (the \u201cCompany\u201d) is pleased to announce the Preferred Share dividend rate for the fiscal year beginning December 1, 2017. Monthly payments to FTN.PR.A will be $0.04583 per share &hellip;<\/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-48838","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48838","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=48838"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48838\/revisions"}],"predecessor-version":[{"id":48839,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48838\/revisions\/48839"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}