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 Jan 06, 2010 1:01pm

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Post# 16645013

RE: WHO COULD BUY US OUT -

For those looking for a buyout, I'd ask why you would want that.

Lets say they get a buyout at $13 this year. For anyone holding today thats 100% premium - but of course, you now get hit with captial gains on the total (unless you have it in a tax-sheltered holding). Now you have a bunch of cash and you need to find a place to invest it. If you are really lucky you might find a company half as good as BNK. I'd rather just leave the full amount invested and growing in BNK and have it grow un-taxed for the next several years. The OIP isn't going anywhere, and it's value is gorwing while it sits in the ground.

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