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

Big Banc Split Corp

Bullboard Posts

Post by dbeaudeon May 24, 2014 5:17pm

558 Views

Post# 22595638

This statement my dear BNK friends really impresses me......

The opening line of the last quarterly report....

"During the quarter Bankers achieved record high netbacks of $55.75 per barrel, and free cash flow of $23 million"

Whaaaaaaat! A netback of over $55 from heavy oil and almost $100 million of annualized Free cash flow despite a huge increase in the 2014 CAPEX to well over $300 million....Whaaaaaaaat!!!

Their balance sheet is absolutely impecable now with about $70 million of free cash flow generated over the last five quarters. They are fully funded for their significantly increased CAPEX with plenty of cash flow to spare......WOW

If the secondary recovery is significantly economic, I cannot for the life of me see how they will not be bought out for $10 a share.

Bullboard Posts

High Tide adds two stores to undervalued cannabis retail network