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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 trade2win2on May 21, 2013 2:07pm
216 Views
Post# 21421961

Annual General Special Meeting -tonight

Annual General Special Meeting -tonight

If anyone can make it i would appreciated if they can post what is said about the bylaws especially the one dealing with dividends. I cannot attend and  I'm curious to hear what they say about dividends. 

 

from news release

At the Meeting, shareholders have been asked to consider and, if deemed
advisable, approve by special resolution the continuance of the Company
from the corporate laws of British Columbia to the corporate laws of
Alberta.  In addition to aligning the Company's registration with the
location of its head office, directors, officers and advisors, the main
purpose for continuing the Company to Alberta is to position the
Company to issue, on a tax effective basis, stock based dividends in
the future.  The provisions of the Business Corporations Act (Alberta) allow corporations to pay more tax effective stock based dividends as compared to the provisions of the Business Corporations Act (British Columbia).
 
Cheers
Bullboard Posts