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:

 

(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, 2025 (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, 2025 (subject to further 5 year extensions thereafter) such amounts as remain in the Company after paying $10 per Preferred Share.

​Preferred Shares:

 

  • Fixed cumulative monthly dividends

  • Potential for higher monthly dividends annually/5 year minimum

  • Quality investments and diversification

  • Strong downside protection and asset coverage

  • Pfd-4 (high) DBRS Rating - Apr 9/20

  • 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

Holdings Sorted by weight as at August 31, 2020:
 

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

September 15, 2020

NAV Pre-Distribution:

$12.36

Distribution:

-

NAV Net of Distribution:

$12.36

NAV + Total Distributions Paid to Date:

$41.65

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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: