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 dbeaudeon Feb 25, 2013 2:29pm

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Post# 21039374

Interesting reversal today.....

sellers jumping the gun and there were over a 1 million shares traded in the first 10 minutes. Some folks bought in today in the $2.30s and are over 20% today.

It appears to be a good sign that after the conference call the share price began to go up even though the market began to struggle over Italy and the sequestration.

The company is now trading at rediculous levels based on CORE NAV and CASH FLOW, RESERVES per BBL etc, etc.

IF this stock was trading at just 3.5 times this years cash flow, it would be trading at `$3.70 per share....at just 4 times cash flow....$4.40.

Something has to give.

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