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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

Post by braincloudon Nov 21, 2015 9:45am
575 Views
Post# 24312032

why 2011?

why 2011?Why are they looking at 2011? If you look at the 2011 annual report there is a discussion about income taxes on page 22. As of Dec. 2011 $235.2 million remains to be recovered in the cost recovery pool representing BNK's cumulative capex of $577.4 million. Although BNK did report an operating profit that year the capex wasn't recovered. It's possible that this is the bone on contention. I'm no accountant , but to a layman, this could be a very simple problem to resolve. I mean BNK reports capex every QTR. The lower the capex the better no? Unless the ALBS are going to challenge every expense through an audit it seems to me this is a slam dunk. There is no motivation for BNK to cheat on what they spent? That year BNK posted a net income of $36 million. This could be just an over zealous finance minister trying to make a name for themselves.
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