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.

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Big Banc Split Corp > Looking Good

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Comment by braincloudon Dec 07, 2015 5:29pm

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Post# 24363064

RE:RE:RE:RE:RE:RE:RE:RE:Looking Good

Good40, the definition of Profit Tax is defined in the Petroleum agreement. It isn't profit in the context of an income statement. The Albanian tax department participates in 2 forms. The first is a royalty Tax and excise tax. They get that without any risk. They get 11.0 % of the oil revenue period. In that particular year they got something like $66 million. AFTER BNK gets their costs back CAPEX and OPEX back (253 million) then the ALBS get 50% period. The argument the ALBS put forth is that BNK exaggerates their CAPEX and OPEX to the tune of $253 million in 2011. The formula is in the defintion of costs specified in my post. Read it.

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One of the best Venture pharma stocks has grown even stronger