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 > What do I do now?

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Comment by Dannygoon Sep 09, 2016 11:15am

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Post# 25221926

RE:What do I do now?

davyboy2 wrote: I am a complete layman but follow everyones comments everyday. This is a new situation for me. Are my misely 10K of shares automatically transferred to the new company, or is it better to sell or what? What happens to the Bankers shares? Excuse me for my lack of experience.

For LRE, after official announcement, it took two weeks to receive the $0.52. So likely, if BNK offically announce today, it may take two weeks.

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This junior mining stock offers billions in market exposure