Market dataIncome framework read
Split-Share / Structure-SensitiveTSXCanada

FTN.TO

Financial 15 Split Corp.

FinancialsSplit-share structureMonthly

Market Snapshot

$11.89

-$0.01 (-8.40%)

Toronto

Yield

12.69%

Rate $1.51

Next Payment

Next pay in 17 days

Ex-date 2026-06-30

52wk Position

98.98%

-0.42% below high

Updated just now

Income Intelligence Summary

Deterministic interpretation from Prospyr's income framework and available market data.

Framework readout
1

Income reliability

Derived from payout history

Payout depends on structure rules

FTN.TO is structure-sensitive. The payout may look regular, but coverage tests and distribution conditions matter more than cadence alone.

2

DRIP defense

Editorial framework

Efficient DRIP footing

FTN.TO is close to the defended zone at default inputs. Price creep cushion is 5.83%, so small price moves can matter.

3

Main watch item

Editorial framework

Structure coverage comes first

FTN.TO is structure-sensitive, so the main check is whether the split-share rules, asset coverage, and distribution conditions support the visible payout.

Decision Area

Distribution and DRIP Defense

Payout history, default DRIP coverage, and price creep pressure using market data where available.

Distribution Chart

Last 12 payments

Confirmed Expected

Coverage Ratio Test

DRIP defense check

Efficient
Cash
$12.58
APR
1.058
Coverage
1.058

Efficient defense zone. Monitor monthly for price creep.

Price Creep

Defended price ceiling

Max defended
$12.58
Cushion
$0.69
Cushion %
5.83%
Current $11.89Break $12.58

Smart Recommendation

FTN.TO is close enough to defend, but small price moves can weaken the rung.

Research Signals

Payout sustainability

Moderate

1mo ago

DRIP availability

Plan-only

1mo ago

Tax character

Mixed

1mo ago

Distribution history

5–10 yr track

1mo ago

Structure complexity

Complex

1mo ago

Income trend

Variable

1mo ago

Account suitability

Non-reg: caution

1mo ago

Structure Overview

Financial 15 Split Corp. (FTN) holds a portfolio of 15 North American financial services stocks and splits the economics between preferred and capital shares. The financial sector concentration means the underlying portfolio can experience synchronized declines during credit or banking stress, reducing coverage ratios simultaneously across all positions.

Canadian Planning Notes

  • 1FTN's financial-sector concentration means all 15 underlying stocks can underperform simultaneously during banking or credit market stress; this correlation risk differs from a diversified split-share.
  • 2Preferred shares (FTN.PR.A) have priority distributions but can still be impacted if the coverage ratio breaches minimum levels.
  • 3Non-registered holders should verify the annual T5 for distribution character; the financial sector weighting tends toward eligible dividend income.

Market Facts

Market Data

A factual market, distribution, valuation, and financial snapshot for this holding.

Market Data

Market data

Updated facts where available

Price

$11.89

Previous close

$11.90

Day range

$11.78 - $11.91

52wk range

$7.05 - $11.94

Market cap

968.6M

Volume

204.9K

Avg volume

221.7K

Exchange

Toronto

Dividend and distribution

Forward rate

$1.51

Trailing rate

$1.37

Forward yield

12.69%

Trailing yield

11.52%

Per payment

$0.13

Cadence

Monthly

Next ex-date

Jun 30, 2026

Next pay

Jul 10, 2026

Last dividend

$0.13

Last dividend date

May 29, 2026

Performance

Daily change

-$0.01

Daily change %

-8.40%

52wk position

98.98%

Below 52wk high

-0.42%

Above 52wk low

68.72%

Open

$11.88

Earnings and financials

Trailing EPS

2.59

Forward EPS

N/A

Revenue

295.6M

Revenue growth

21.60%

Profit margin

78.39%

Operating margin

97.46%

Payout ratio

N/A

Free cash flow

146.8M

Total cash

1.5B

ROE

32.32%

ROA

12.79%

Debt/equity

88.68

Beta

1.38

Valuation

Trailing P/E

4.59

Forward P/E

N/A

Price/sales

3.28

Price/book

1.23

Enterprise value

165.6M

EV/EBITDA

N/A

Analyst facts

Target mean

N/A

Target high

N/A

Target low

N/A

Recommendation mean

N/A

Recommendation key

none

Analysts

N/A

Canadian Context

Account placement

TFSA

Mixed-character distributions are usually easiest to handle in a TFSA because annual tax reporting is avoided.

RRSP: Also shelters distribution complexity.

Non-registered: Review T3 or issuer tax breakdown before using a taxable account.

Eligible dividend tax credit

Total credit
$345.27
Effective rate
34.53%

Broker DRIP status

Questrade

Available

Wealthsimple

Available

RBC Direct Investing

Available

TD Direct Investing

Available

Run Your Numbers

Carry this holding into a calculator

Use a planning tool that matches this holding's structure, payout timing, and income use case.

Test DRIP durabilityTest DRIP durability

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This profile is informational only and does not constitute licensed financial advice. Signal values, planning notes, market data, and structure summaries may not reflect the most current issuer disclosures. Always verify current payout policy, ex-dividend dates, financial statements, and issuer communications before making any investment decision.