Views on FFN

Hi,

What’s your views on FFN, they suspended dividend in Mar’20 and I saw the below article in which they declared dividend for the preferred shares but not for Class A shares. Not sure when they will restore dividend for our shares, need your views if this a share we should HOLD or sale. As on today’s price I’m able to get my money back without any gains.

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — North American Financial 15 Split Corp. (The “Company”) declares its regular monthly distribution of $0.05625 for each Preferred share ($0.675 annually). Distributions are payable January 8, 2021 to shareholders on record as at December 31, 2020.

There will not be a distribution paid to the Class A Shares for December 31, 2020 as per the Prospectus which states no regular monthly dividends will be paid on the Class A shares in any month as long as the net asset value per unit is equal to or less than $15.00.

Since inception Class A shareholders have received a total of $13.89 per share and Preferred shareholders have received a total of $8.60 per share inclusive of this distribution, for a combined total of $22.49.

The Company invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Financial Corp, Bank of America, Citigroup Inc., Goldman Sachs Group, JP Morgan Chase & Co. and Wells Fargo & Co.