OVERVIEW

CORE HOLDINGS

Financial 15 Split Corporation is a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers. The portfolio shares have demonstrated a record of above-average long-term share performance and dividend growth. Financial Services companies are expected to benefit from a growing economic and capital markets recovery, earnings growth momentum and continued consolidation trends within the industry.

 

The corporation offers two types of shares, a Class A (FTN) and a Preferred (FTN.PR.A).

 

 

To view a Split Share Fund overview please click here.

Canadian Issuers

 

Bank of Montreal

Bank of Nova Scotia

Canadian Imperial Bank of Commerce

National Bank of Canada

Royal Bank of Canada

Toronto-Dominion Bank

Manulife Financial

Sunlife Financial

Great-West Lifeco

CI Financial Corp.

 

 

U.S. Issuers

 

Bank of America

Citigroup Inc.

Goldman Sachs

JP Morgan Chase & Co.

Wells Fargo & Co.

 

 

Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time. Top holdings by weight may include holdings other than the core holdings as 15% of the net asset value may be invested in equity securities other than the core holdings (as per the Prospectus).

OBJECTIVES

SHARE HIGHLIGHTS

​Preferred Shares:

 

  • Fixed cumulative monthly dividends (5.25% minimum until 2020)

  • Potential for higher monthly dividends effective Dec 1, 2015 and with any further 5 year extension

  • Quality investments and diversification

  • Strong downside protection and asset coverage

  • Pfd-4 (high) DBRS Rating - Apr 11/19

  • Competitive Yield

  • Eligible for registered accounts

 

Class A Shares:

 

  • Monthly cash dividends

  • Quality investments and diversification

  • Leverage to performance of high quality stocks

  • Capital appreciation potential

  • Attractive alternative to other income vehicles

  • Eligible for registered accounts

TOP HOLDINGS

VALUATION

Preferred Shares:

 

(i) to provide holders of Preferred Shares with cumulative preferential monthly cash dividends currently in the amount of 5.50% annually, to be set by the Board of Directors annually subject to a minimum of 5.25% until 2020; and
(ii) on or about the termination date of December 1, 2020 (subject to further 5 year extensions thereafter), to pay the holders of the Preferred Shares $10 per Preferred Share.

 

Class A Shares:

 

(i) to provide holders of Class A Shares with regular monthly cash distributions in an amount to be determined by the Board of Directors; and
(ii) to permit holders to participate in all growth in the net asset value of the Company above $10 per Unit, by paying holders on or about the termination date of December 1, 2020 (subject to further 5 year extensions thereafter) such amounts as remain in the Company after paying $10 per Preferred Share.

Holdings Sorted by weight as at October 31, 2019:
 

JPMorgan Chase & Co
Bank of America Corp
Citigroup Inc
Canadian Imperial Bank of Commerce
Toronto-Dominion Bank
Sun Life Financial Inc
Goldman Sachs Group Inc
Wells Fargo & Co
Manulife Financial Corp
Bank of Nova Scotia
Royal Bank of Canada
Bank of Montreal
National Bank of Canada
Great-West Lifeco Inc
Fifth Third Bancorp

October 31, 2019

NAV Pre-Distribution:

$15.81

Distribution:

$0.17153

NAV Net of Distribution:

$15.63

NAV + Total Distributions Paid to Date:

$43.96

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200 Front Street West

Suite 2510, P.O. Box 51

Toronto, Ontario M5V 3K2

 Investor Relations: 1-877-478-2372 

 Local Investor Relations: 416-304-4443

 Main telephone: 416-304-4440

 Fax: 416-304-4441

 

Questions may be directed to 

info@quadravest.com

or submitted in the fields below: