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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

Comment by aurumtraderon Dec 07, 2015 11:02am
119 Views
Post# 24361259

RE:BNK down again -2%

RE:BNK down again -2%I think it was just around the open today. Stock is currently up 7% (8 cents) according to TD. I think now that we have this Alabanian Tax issue sorted out (or at least the bank account being a hostage) we should be good.

About 5 mill a month is still sucky, especially given the fact that the issue is not yet resolved so it may get returned to Bankers with a positive result, it is a lot more manageable. 

On the bright side, if we do turn out to be "victorious", the money returned could fund a good portion of the capital budget in that period so you could argue this is a potential pre-payment on future capital expenditures. And with the new development in Hungary, it would be ideal to steer this money to that development or something.

We will see what happens. 

GLTA
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