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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 PUNJABIon Feb 25, 2013 10:21am
325 Views
Post# 21037740

Very weak market book at open

Very weak market book at open

There were very few bids on the market book at the open. There were few sellers that wanted to get out at the open & were competing against each other. The stock opened down & then some of the aggressive sellers who did not see too many bids panicked & drops their shares on the bids taking the stock down to $2.35. When the dropped the bids there was a big gap between the bids & offers. There a short pause in the trading then the buyers did not see more sellers the bids came in & kept increasing till they started to take out the offers. The stock eventually recovered & at one time even turned green.  The good thing is that the market is trading in green otherwise the stock would not have recovered from its losses.

Bullboard Posts