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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

Bullboard Posts
Post by tinman8on Jul 06, 2011 12:17pm
500 Views
Post# 18801437

Where do we go from here -

Where do we go from here -What we've witnessed is very disappointing - no getting away from that.
However, I see this as a set back NOT a calamity.  Nor do I believe the longer term prospects are going to be impacted.
Also those in the know - shorting BNK as they did - brought the price down on this news - its just that most of us were unaware of it.  That being said todays punishment of the SP is tantamount to punishing the price twice on the back of the SAME piece of news.
While I don't expect the SP to recover quickly to yesterdays close - I do expect that we will very gradually recover all lost ground.
I can think of several examples of juniors that missed targets on a temporary basis recently  - such as IAE that have almost fully recovered their SP's over the past 2 or 3 weeks or so.  I believe BNK will do the same.
I shall wait for the dust to settle then buy more.
GLA
Bullboard Posts