Financial 15 Split (TSE:FTN) Reaches New 1-Year High – Here’s Why

Financial 15 Split Corp. (TSE:FTN)’s stock price reached a new 52-week high on Wednesday . The company traded as high as C$11.60 and last traded at C$11.44, with a volume of 586081 shares. The stock had previously closed at C$10.96.

Financial 15 Split Trading Up 1.9%

The company’s fifty day simple moving average is C$10.28 and its 200-day simple moving average is C$10.71. The firm has a market capitalization of C$856.10 million, a PE ratio of 4.06 and a beta of 1.88. The company has a debt-to-equity ratio of 88.68, a current ratio of 0.21 and a quick ratio of 1.91.

Financial 15 Split Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 8th. Investors of record on Friday, May 8th were paid a $0.1257 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 13.0%. Financial 15 Split’s dividend payout ratio (DPR) is currently 44.91%.

About Financial 15 Split

The Companys investment objectives with respect to the Class A Shares are (a) to provide holders of Class A Shares with regular monthly cash distributions, in an amount to be determined by the Board of Directors; and (b) to permit such holders to participate in all growth in the Net Asset Value (as defined herein) of the Company above $10.00 per Unit (as defined herein), by paying such holders, on or about the Termination Date (as defined herein), such amounts as remain in the Company on the Termination Date after paying the Preferred Share Repayment Amount (as defined herein) to the holders of the Preferred Shares.