North American Financial 15 Split Corp. announces 10:1 share split and higher dividends

North American Financial 15 Split Corp. has announced a 10:1 split of its Class A shares. The move is subject to approval by the Toronto Stock Exchange and will take effect on July 3, 2026. Shareholders will also see a rise in monthly cash distributions after the split. The company will issue 10 additional Class A shares for every 100 held by shareholders. Trading for the split shares will begin ex-split on July 3, 2026, with no fractional shares provided. Monthly cash distributions for Class A shareholders are set to increase by around 10%, targeting $0.11335 per share post-split.

Since its launch, Class A shareholders have received total cash distributions of $19.22 per share. Alongside the split, the company is offering Preferred shares (TSX: FFN.PR.A) at $10.90 each, led by National Bank Financial Inc. The offering closes at 8:30 a.m. EST on June 26, 2026, with a final closing date of July 6, 2026, pending TSX approval.

The Preferred shares provide fixed, cumulative monthly dividends at an annual rate of 7.50%, with a guaranteed minimum of 7.00% until 2029. On termination, currently set for December 1, 2029, holders will receive $10.00 per Preferred share. Net proceeds from the offering will fund investments in Canadian and U.S. financial services companies. The Class A share split and increased distributions aim to benefit existing shareholders. The Preferred share offering provides investors with fixed returns and a clear redemption date. Both initiatives are tied to the company’s strategy of investing in financial services across North America.