FFN Announces 10:1 Share Split and New Preferred Share Offering by 2026

North American Financial 15 Split Corp. (FFN) has announced a 10:1 split of its Class A shares, effective July 3, 2026. The move is subject to TSX approval and will see shareholders receive additional shares proportionally. Trading will begin on an ex-split basis the same day. FFN will also conduct an overnight offering of Preferred shares (FFN.PR.A) at $10.90 per share. The offering is set to close at 8:30 a.m. EST on June 26, 2026. No fractional Class A shares will be issued as part of the split.

The Preferred shares will pay fixed, cumulative monthly dividends at an annual rate of 7.50%. This rate has a minimum guarantee of 7.00% until December 1, 2029. Dividend payments will start on December 1, 2025.

Net proceeds from the Preferred share offering will fund investments in Canadian and U.S. financial services companies. The entire offering is expected to close on or about July 6, 2026, pending final TSX approval.

Class A shareholders will see their monthly cash distributions rise by 10% post-split, amounting to $0.11335 per share. Since inception, these shareholders have received a total of $19.22 per share in cash distributions. On termination, currently set for December 1, 2029, Preferred shareholders will receive $10.00 per share. The share split will grant Class A holders 10 additional shares for every 100 shares they own. Trading on an ex-split basis will commence on July 3, 2026. The changes aim to adjust share structure while maintaining distribution levels for investors.