Financial 15 Split (TSE:FTN) Reaches New 1-Year High – Still a Buy?

Financial 15 Split Corp. (TSE:FTN) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as C$11.94 and last traded at C$11.93, with a volume of 101185 shares. The stock had previously closed at C$11.89.

Financial 15 Split Trading Up 0.2%

The firm has a market capitalization of C$970.22 million, a P/E ratio of 4.60 and a beta of 2.05. The stock has a 50-day simple moving average of C$10.98 and a two-hundred day simple moving average of C$10.72. The company has a current ratio of 0.21, a quick ratio of 1.91 and a debt-to-equity ratio of 88.68.

Financial 15 Split Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, June 10th were issued a $0.1257 dividend. This represents a c) annualized dividend and a dividend yield of 12.7%. The ex-dividend date was Friday, May 29th. Financial 15 Split’s payout ratio is presently 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.