1
Editorial frameworkIncome reliability
Payout depends on structure rules
FTU.TO is structure-sensitive. The payout may look regular, but coverage tests and distribution conditions matter more than cadence alone.
Market dataIncome framework read
Split-Share / Structure-SensitiveTSXCanada
FTU.TO
U.S. Financial 15 Split Corp.
FinancialsSplit-share structureUnknown
Market Snapshot
$0.81
-$0.02 (-2.41%)
Toronto
Yield
N/A
Rate N/A
Next Payment
Payment date passed
Ex-date 2008-05-28
52wk Position
77.19%
-13.83% below high
Updated just now
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
Distribution history is not available for this holding.
Coverage Ratio Test
DRIP defense check
- Cash
- $5.80
- APR
- 7.160
- Coverage
- 7.160
Fortress level. Selectively used for highest-priority rungs.
Price Creep
Defended price ceiling
- Max defended
- $5.80
- Cushion
- $4.99
- Cushion %
- 616.05%
Current $0.81Break $5.80
Smart Recommendation
FTU.TO is inside the defended DRIP zone at these inputs; monitor price creep before adding new capital.
Research Signals
Research in progress
DRIP availability
Pending
Tax character
Pending
Distribution history
Pending
Structure Overview
This is a split-share corporation, which separates the capital appreciation and dividend income of an underlying equity portfolio between two share classes: preferred shares (priority distributions) and capital shares (residual income and NAV growth). The leverage embedded in the capital-share structure amplifies both gains and losses; distributions can be suspended if the coverage ratio falls below regulatory thresholds.
Canadian Planning Notes
- 1Split-share preferred shares receive priority distributions but are not the same as bank-issued preferred shares; review the coverage ratio, asset coverage test, and termination date before planning.
- 2Distribution suspensions on capital units can happen quickly when the underlying portfolio declines; do not plan income around split-share capital units without stress-testing coverage.
- 3Tax character of split-share distributions varies; confirm the T5 breakdown annually as it may include capital gains, eligible dividends, or return of capital depending on the issuer.
Market Facts
Market Data
A factual market, distribution, valuation, and financial snapshot for this holding.
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
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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.