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

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Comment by rehsifylfon Oct 08, 2008 11:03am

258 Views

Post# 15513248

Traders have this one

Been watching the depth and this thing is being walked down. Big block placed just below the ask (80K @ 125), no selling into it, once the buying at the ask slows, the block gets pulled and it gets moved down. There is virtually zero buying right now. BNK should issue a NCIB right now to stop this - it wouldn't take much. Total $ volume today is only ~$1m. I won't buy more until they do, because it is just too easy for the traders in this environment.

IMO, they are far better off to use some cash to force these vultures to move on.

Good news is that these scum of the earth are going to be out of jobs soon anyways.

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