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Big Banc Split Corp T.BNK

Alternate Symbol(s):  T.BNK.P.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

Post by lefmikeon Nov 30, 2015 2:41pm
213 Views
Post# 24339410

For the foreseeable future this is totally dead money

For the foreseeable future this is totally dead money My disapointment in what has happened doesn't at all describe this situation.  The Albanians not only acting like a banana republic but worse, they are actually starting to act like a Peoples Democratic Republic  type.......  Can anyone spelle Venuzuela ???

Which is even scarier.  I sincerely doubt that the country is that stupid.  Can there be even a 25% chance that this is not a cash grab but that BNK actually owes this money?  If so,  do they have the money to repay following the audit.  Canacord appear to believe that the company is in the right but they did say that BNK refused to provide proof of their stand.

For the longs ( me included )  we're being hammered,  I was tempted to buy more but right now I honestly believe that we'll drift further south until the NR saying their accounts have been released.

BC  you really love this pig....  I do too but man OH MAN   so tired of energy stocks, I might have to actually get a job LOL    NOT! 
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