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First National Financial Corporation (FNLIF)

Other OTC - Other OTC Delayed Price. Currency in USD
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26.98-1.27 (-4.50%)
At close: 09:57AM EDT

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  • K
    Kenneth
    up 10.6% on 52 shares... people getting excited for earnings and a possible (I doubt it) div hike?
    I'm thinking they will do it in Dec. not June but they have done it this time before
  • K
    Kenneth
    bought 30 shares this morning

    50 shares @ 33.55
  • J
    Jody
  • K
    Kenneth
    Regarding the lack of the dividend hike this quarter:
    TLDR: They OVERDID IT last year... while its comfortable and they can sustain it this year expect a small div hike, or no div hike this year.

    During the earnings call the National Bank of Canada called and asked (33:36):
    National Bank: Tied to the dividend, typically I would of expected a small dividend increase, it looks like the April is on par with the last few months. Is there anything to read into... with a lack of a dividend increase at this point?... or am I missing something on the timing??
    First Financial: No nothing to read into it... we will continue to characterize ourself as a high dividend paying company and at this stage we are just... seeing how this year goes but our general feeling about our dividend policy.
    National Bank: Okay... taking a little bit of a conservative approach to start 2022?
    First Financial: Right!
    It was difficult in 2021 to set the dividend rate we knew that 2021 wasn't going to continue forever and ever, it was going to slow down. So we wanted to make a sustainable rate for the future, the $2.35 was a HUGE increase the previous rate. So we may of overdid it a bit on the increase, but we are comfortable this year in covering this dividend rate.
    (AKA no increase yet since they 'overdid it')
  • K
    Kenneth
    Talking to them via email today to find their payout ratio:
    INCLUDING Hedge related gains - 68%
    Without including - 108%

    If they didn't hedge and take those gains they would of paying us 8% more then they make... sorta worrying but its also doable if they continue this
  • M
    Meddy
    I’m in at 20 here with a intrinsic value target of 42. Short term I believe the cash flows will take a hit but it doesn’t subtract from the long term performance of first national and its superior management and returns on equity. Not to mention shareholder friendly dividend policy. Like I said, this is 50% off
  • c
    cort
    Any concerns on this dividend being cut?
  • A
    Allan M
    I bought some a month or so ago for my RRSP. Honestly I'd never heard of them but was buying an investment condo and the mortgage broker offered them as the best deal. I was only financing 60% and the rental was in place, plus my credit rating is excellent, but they made me jump hoops to get approved. I figured if they're that conservative on their approvals and can pay out a steady excellent dividend, they must be a safe play.
  • J
    Jody
    earning seems to be ok. insider buying and awns 75% of the shares. good save place to put your money with about a 6% dividend and some upside.
  • F
    Fahim
    luckily bought few right before closing yesterday. hehe. let's hope it drops a bit more. I love this stock! juicy monthly dividend. they are 2008 survivor. so I have great confidence in them. :D
  • T
    Trade Baiters
    Earnings were not bad. It was expected that new mortgages, especially in regards to personal mortgages would be slowing down as BOC lending rates increase.

    Management indicates that their business is ready for the expected slowdown. SP is in a good range. It is unlikely to see the SP go below 30 / share again. 35-43 range seems likely.

    Upside is that the dividend seems rather safe and protected based on cash flow. Additionally, like most bank stocks, they are a long term hold and people buy them because they are less risky in contrast to other funds out there and because of their yield.

    Curious though...with inflation increasing and with the new taxes in Canada on corporations that profit a specific amount, will First National increase their payout?
  • G
    GreenMarty
    I typically get a $67 monthly dividend on $16k holdings, was a nice surprise to see I got $500 in Dec! I totally forgot about the special dividend.
  • T
    Trade Baiters
    We are bullish on First National. We love the dividend and believe that each time there is a little pullback (app $2-3/share) it provides great opportunities for buys.

    We took a small position the other day at 48/share. Loved the little pullback on the market open and were happy to get the shares through for purchase.

    Our plan is to average down if it falls below 47/share which we do not see happening at this moment in time. We plan to sell if the stock breaks above 52/share. Until then, its happy holding and collecting the dividend.
  • K
    Kenneth
    earnings was as expected and in my opinion solid.
    dividend policy/plan remains the same which is great
  • G
    GreenMarty
    This 6% drop is totally unwarranted, 2021 revenue was down but mortgages under management went up 4%.
  • K
    Kenneth
    so let's compare:
    FCD.UN - 6.6% yield
    Oil companies- ~6% - 7% yields
    FN.TO - 5.8% yield
    banks - 4.3% yield at the highest
    REITs - ~4% yield

    with this yield and its consistent track record I really don't see how it's not a buy when compared to others
  • M
    Meddy
    I recommend you take a good look at this business. It's a cash flow machine and its not that complicated what they do really. 6% yield right now in a environment with less-than inflation risk-free returns, growing 5% plus with special dividends at year end when they have extra cash they cannot put to work. It's hard to find companies like that where management would actually be willing to return the extra cash to you. It's a very good business.
  • K
    Kenneth
    Wow.... this looks like an awesome MREIT

    12 years of constant dividend increases, 5 special dividends, and 75% payout ratio based on last earnings... I'm buying some tomorrow :D
  • K
    Kenneth
    my 20 shares looking mighty fine today
  • V
    VOSS
    why is this falling so much