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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Post by tinman8on Aug 05, 2011 8:02am

306 Views

Post# 18907297

Currently 66% of Brent price -

This is what BNK receives NOW.
It is true the percentage was lower in past years - but the discount to light sweet crude has been shrinking over the years due to the fact the demand from refineries for heavy crude has grown.
Much of the worlds available - easily accessed - light crude has long since been used up.
The current price BNK receives is 66% and could easily go higher for the reasons given above.
The fact that BNK once received 6 or,62% - and the past few years average is 63% is history - and has no bearing on their situation today.
Personally I dont count my income as being whatever it was 10 years ago - my interest is what it is today !

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