Preferred Shares Offering Announcement
Financial 15 Split Corp. is excited to announce its upcoming offering of Preferred Shares (TSX: FTN.PR.A). This initiative is aimed at raising capital, following the successful track record of the Company.
Details of the Offering
The preferred share sales will commence shortly and are set to conclude at 9:00 a.m. EST on a specified date. The offering is anticipated to finalize around a later date and is contingent upon necessary approvals.
Offering Price
Each Preferred Share will be available at a competitive price of $10.60. This price reflects the Company's commitment to providing attractive investment opportunities.
Consistent Dividend History
Since its inception, Financial 15 Split Corp. has demonstrated a commitment to its investors by declaring a total of 263 consecutive dividends for the Preferred Shares, amounting to approximately $12.83 per share. These distributions have been made in a tax-efficient manner, highlighting the Company's dedication to its shareholders.
Investment Approach
The net proceeds from this offering are intended for reinvestment into a carefully curated portfolio of high-quality financial services companies based in Canada and the United States. Some of the notable companies included in this portfolio are:
Key Investment Holdings
The portfolio aims to include reputable institutions such as Bank of Montreal, National Bank of Canada, Bank of America Corp., The Bank of Nova Scotia, and more. This diversified approach enables the Company to mitigate risk while pursuing opportunities for revenue generation.
Investment Objectives
The Company has well-defined objectives for its Preferred Share investments, including:
- Starting on a certain date, holders of the Preferred Shares are set to receive fixed, cumulative monthly dividends at an annual rate of 7.25%, with a minimum of 6.00% guaranteed until a specified year.
- Upon reaching the termination date, currently set for December 1, 2030, the aim is to return $10.00 per Preferred Share to shareholders.
Further Information
For detailed information regarding the Preferred Shares and the Class A Shares, a prospectus supplement will be filed with relevant securities commissions. This document will provide important information for potential investors.
Contact Information
For further inquiries, investors are encouraged to reach out to Financial 15 Split Corp. Investor Relations at 416-304-4443 or toll-free at 1-877-4-Quadra (1-877-478-2372). Additionally, more information can be found at the official website of Financial 15 Split Corp.
Frequently Asked Questions
What is the goal of the preferred shares offering?
The goal is to raise capital for investing in high-quality financial services companies while providing attractive dividends to shareholders.
What is the expected dividend rate?
The expected dividend rate for the Preferred Shares is set at 7.25% annually, with a minimum of 6.00% guaranteed until a specific year.
How can investors acquire the Preferred Shares?
Investors can acquire the Preferred Shares through a registered financial advisor once the offering commences.
What are the key companies in the investment portfolio?
The portfolio includes major institutions such as Bank of Montreal, National Bank of Canada, and Goldman Sachs Group Inc., among others.
Who should investors contact for more information?
Investors should contact Financial 15 Split Corp. Investor Relations for more information and assistance.
