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.

Preferred Shares:

(i) to provide holders of Preferred Shares with cumulative preferential monthly cash dividends currently in the amount of 9.25% annually, to be set by the Board of Directors annually and subject to a minimum of 5.5% until 2025; 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.

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Class A Shares:

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(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 - February 2024

• 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
  
  *For the purposes of the Income Tax Act (Canada) and any similar provincial legislation, the Company designates any and all dividends paid on both its Class A and Preferred shares as “eligible dividends” unless the Company indicates otherwise.

Holdings Sorted by weight as at September 30, 2024

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