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

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Post by tinman8on Sep 02, 2009 10:39am

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Post# 16270579

Rather feeble drawdown for oil -

Disappointing if you are long. The 0.4 million barrels of crude are not going to be received too well.
Michael Hainsworth on BNN points out that this leaves the inventory nearly 12 % above last year at this time.
The large oil discovery by BP in the Gulf he says can produce about 300,000 + bls/day when it comes on stream - which is also bearish for oil.
To be fair BNK has held well over the last few days - but I suspect most of that has been in the hope todays inventory report would be much more supportive than its turned out to be.

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