Q: Regarding Scott’s question of 7 Sept on FTN. The NAV as of end Aug is $16.50 and the company announced its regular monthly dividend for Sept. Your answer doesn’t match the above information from the company’s website. Do you know why the share price has declined so dramatically over the past week? Thank you
Kenn
Kenn
5i Research Answer:
This was our error, with an excuse. Bloomberg had posted on its FTN section a press release on FFN, another split share corp. FFN, not FTN, stopped its dividend, and we failed to catch the symbol switch and thus did not confirm on the company's website. But now we can't really explain the drop as well. There has been no other news. It's very possible other investors made this mistake and still sold FTN.