Financial 15 Split (TSE:FTN) Stock Passes Above 50 Day Moving Average - Here's Why

Key Points

• Financial 15 Split (TSE:FTN) climbed above its 50-day moving average of C$10.22, trading as high as C$10.90 and last at C$10.89 on volume of 75,467 shares.
• The company declared a monthly dividend of $0.1257 payable May 8 (ex-dividend April 30), implying a 13.9% dividend yield and a payout ratio of 44.91%.
• Valuation and balance-sheet highlights: market cap C$806.48M with a P/E of 3.83, but high leverage (debt-to-equity 88.68) and a low current ratio of 0.21.

Financial 15 Split Corp. (TSE:FTN - ) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$10.22 and traded as high as C$10.90. Financial 15 Split shares last traded at C$10.89, with a volume of 75,467 shares trading hands.

Financial 15 Split Stock Performance

The company has a market capitalization of C$806.48 million, a PE ratio of 3.83 and a beta of 1.88. The company has a quick ratio of 1.91, a current ratio of 0.21 and a debt-to-equity ratio of 88.68. The company has a 50-day moving average price of C$10.22 and a two-hundred day moving average price of C$10.69.

Financial 15 Split Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, May 8th will be given a $0.1257 dividend. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 13.9%. Financial 15 Split's payout ratio is 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.

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