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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 Nov 25, 2014 7:18pm
327 Views
Post# 23163826

Bankers still generating $30 plus per bbl at $80 crude

Bankers still generating $30 plus per bbl at $80 crudeAt the 2015 production, that is $265,000,000. All they have to do is reduce the number of wells some next year and slow down the secondary infrastructure spending and they would be able to have a fully funded by cash flow drilling program. That is pretty amazing. It is one thing to generate positive cash flow at low crude prices, but it is another thing to be able to fund a drilling program from cash flow at these low crude prices. Bankers can still fund a capex with forward cash flow while many others will not be able....like many of the Shale oil producers.....they may be cash flow positive at $80 but will have to borrow big time to fund their capex...not goof
Bullboard Posts