Canadian Banc Corp T.BK

Alternate Symbol(s): CNDCF | T.BK.P.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.

TSX:BK - Post by User

Canadian Banc Corp > Inflation

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Comment by Toppicks1on Mar 20, 2024 7:28pm

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Post# 35943963

RE:RE:Inflation

mouserman wrote:
Toppicks1 wrote: Rate in Canada dropped to 2.8% in February. Could lead to a rate cut. BK is a slow crawl up from buy zone of 10.25. Small capital gain to go along with the nice divi of 13 cents or 17%. Which almost looks like a sure thing for the rest of the year.

BK does NOT have a steady 13 cent divvy, the amount is based on the last 3 days of trading in the previous month. SO if you buy at a low and then the stock goes up in the last 3 days, you MIGHT get 17%, but that would be rare.
The distribution is based at 15% of the average price of those last 3 days of the preceding month.

Yes I fully understand how the divi works. I also expect it to go a lot high then 13 cents this summer. The higher the stock goes the bigger the divi.

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