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

Bullboard Posts

Comment by rehsifylfon Apr 19, 2009 5:58pm

265 Views

Post# 15929967

Dilution

Short term this should stabilize the stock and maybe it will reach 20% higher - but long term - I'm disappointed that the company didn't show more patience. IMO they should not have done any offereings at under $2.5 - debt was a much better route.

As a rule - I run from anything that Cannacrap has a hand in - if they have ever done an honest deal - someone needs to prove it to me. This thing had the $%$# shorted out if (starting at $3.25) by the very clowns that just closed out there short positions at $1.75 - when it was clear that most shareholders wouldn't sell in at under $2.5.. They are not investing in Bankers - they are covering the shorts.

Company doesn't have much choice but doesn't mean i have to like it.

Bullboard Posts

Rich TV Live’s Stocks to Watch this week (Nov. 15, 2024)