Canadian Banc Corp T.BK

Alternate Symbol(s): CNDCF | T.BK.PR.A

The Companys investment objectives are (i) to provide holders of Preferred Shares with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the Prime Rate plus 0.75%, with a minimum annual rate of 5.0% and a maximum annual rate of 7.0% (ii) to provide holders of Class A Shares with regular floating rate monthly cash distributions targeted to be at a rate per annum equal to the Prime Rate plus 2.0%, with a minimum targeted annual rate of 5.0% and a maximum targeted annual rate of 10.0% and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012.

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Canadian Banc Corp > BK unit nav to OCT 14 = approx: $19.87

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Post by mousermanon Oct 14, 2022 7:04pm

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Post# 35025993

BK unit nav to OCT 14 = approx: $19.87

So BK ended up losing 15 cents off the unit nav since the Sept update.
Commons now have a value of $9.87 and the last trade was @ $12.73.
That is a premium of $2.86 or about 28.9 %.
For what its worth i would sell BK with the high premium and lower yield, and buy FTN which trades at a premium which is about half ot BK.
The CAD banks were the biggest AND weakest part of the fund . FTN gained 32 in that same time frame, due to very big holdings in the US banks.

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