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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
Comment by dbeaudeon Jun 12, 2013 5:44pm
120 Views
Post# 21517320

RE: RE: RE: bids coming in again

RE: RE: RE: bids coming in again

All valid points but Brent was up today. I think Bankers is a high beta trading stock that really gets its lights punched out when the markets are under pressure. This company will generate $1.10 CFPS this year and nearly $0.50 EPS at $100 Brent. A PE of just 10 (TSX at ~15) the stock should be trading at $5. Their netbacks for a heavy oil producer put the North American peers to shame. They had just under a $50 netback last Q. From a shareholders perspective, they need a real strong "value unlocking event". It really amazes me that at 17000 bbls per day and growing at nearly 20% per year, that an international major independent has not made a run at Bankers for for both the near quarter billion bbls of oil based reserves they could add to their balance sheet as well as the well IRR of nearly 200%.

Bullboard Posts