{"id":6896,"date":"2009-06-13T16:11:54","date_gmt":"2009-06-13T20:11:54","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=6896"},"modified":"2009-06-13T16:11:54","modified_gmt":"2009-06-13T20:11:54","slug":"ftnpra-reinstates-capital-unit-dividend","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=6896","title":{"rendered":"FTN.PR.A Reinstates Capital Unit Dividend"},"content":{"rendered":"<p>Financial 15 Split Corp. <a href=\"http:\/\/www.financial15.com\/pdf\/FTN\/FTN%20May20.09.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>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.<\/p><\/blockquote>\n<p>This is of interest since the <a href=\"http:\/\/www.prefblog.com\/?p=4923\">Capital Unit Dividend was suspended in December<\/a>; 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.<\/p>\n<p>The NAV on May 29 was $15.91 on May 29, according to <a href=\"http:\/\/www.financial15.com\/valuations.html\">the company<\/a>.<\/p>\n<p>FTN.PR.A is tracked by HIMIPref&trade; but has been relegated to the &#8220;Scraps&#8221; index due to credit concerns. It was last mentioned on PrefBlog when DBRS downgraded it to Pfd-4 in February as part of a <a href=\"http:\/\/www.prefblog.com\/?p=5484\">mass downgrade of SplitShares<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 &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-6896","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/6896","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=6896"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/6896\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}