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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

Big Banc Split Corp
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Comment by pix4dddon Nov 06, 2015 12:47pm
130 Views
Post# 24267116

RE:Quaterly results

RE:Quaterly resultsAlthough our cash position is lowering quarter after quarter
Q3 2014 : $88MM cash
Q4 2014 : $73MM cash
Q3 2015 : $63MM cash

Our debt level is increasing also by 23MM compare to Q3 of last year
"

Current portion of long-term debt 

"

and our production is decling around 10-12% a year.

I am afraid things will get worst next whn $80 oil hedging ends.

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