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FINWIRES

Financial 15 Split Announces 10-for-100 Class A Share Split

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Financial 15 Split (FTN.TO) after trade Tuesday said it plans to carry out a stock split of its Class A shares following strong performance, subject to approval from the Toronto Stock Exchange.

Shareholders on record as of May 19 will receive 10 additional Class A shares for every 100 shares they own, increasing their total share count by about 10%, the company added.

The company said shareholders will continue receiving monthly cash distributions of $0.12570 per Class A share after the split. Trading on a split-adjusted basis is set to begin on May 19. The stock split will not be a taxable event.

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