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 tinman8on Sep 11, 2009 11:23am

358 Views

Post# 16297260

RE: movement

After a period of consolidation over the last 3 weeks,- it is beginning to look as if we may be ready to break and stay above $4.
Worries over a correction seem to have been put on hold for the time being.
Provided one looks at the medium to long term outlook for BNK - a correction - if and when it comes - will have no long term effect on the company. The fundamentals are too strong and there remains a ton of money on the sidelines waiting to get in on any pullback - which will limit any downside move should one come.
Have a great weekend all

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