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Big Banc Split Corp T.BNK

Alternate Symbol(s):  T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.


TSX:BNK - Post by User

Bullboard Posts
Post by dbeaudeon Jan 06, 2014 11:41pm
261 Views
Post# 22064302

Bankers has room to run....

Bankers has room to run....With a 2P NAV of $7.50, the stock could easlity trade at 80% of this and be at $6. At this level the cash flow multiple would not be that high either. Based on this years CFPS estimate of $1.30, that is only 4.6 times which is not at all a high number. And considering the size of the reserve base at nearly 230 mmbbls and the contingent resserves of another 500 million bbls if tertiary enabled economic extraction, the company should be trading at premium valuations.
Bullboard Posts