Bullboard - Stock Discussion Forum Canadian Banc Corp T.BK

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

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... see more

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TSX:BK - Post Discussion

Canadian Banc Corp > BK unit nav to AUG 28 = approx: $19.49

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Post by mouserman on Aug 28, 2023 4:36pm

BK unit nav to AUG 28 = approx: $19.49

So some big gains from the CAD banks today, and even the US banks were up a bit.
Value of the commons after distributions to preferreds and commons (OF 23 cents total)= $9.26
Last trade today was 12.98, so the premium after DIST. remains elevated @ $3.72 or about 40%.

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Comment by Obscure1 on Aug 28, 2023 5:15pm

Thanx mouse. One small point that you always ignore is that the share price typically drops the same amount as the divi for the Common shares ($0.165 this month) on ex-divi day. Based upon today's close, I would deduct $0.16 to arrive at $12.82 to be used for calculating the premium. Therefore $12.82 minus $9.26 = $3.56. Dividing $3.56 by $9,26 produces a ...more

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Comment by kurtwalter on Aug 29, 2023 12:13pm

Canadian Banc Corp. At-The-Market Equity Program Renewed: Since the Class A Shares and Preferred Shares will be distributed at the prevailing market prices at the time of the sale, prices may vary among purchasers during the period of distribution. Does that not mean that BK won't be issuing shares below the market price, as it did in the past?

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Canadian Banc Corp