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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 dbeaudeon Dec 01, 2015 3:56am
273 Views
Post# 24341560

The economics just will not work...

The economics just will not work...Does not Alpetrol not get it? If the onerous tax structure was imposed on Bankers or any company for that matter, the business model is severely comprised. The rate of reinvestment is diminished at higher crude prices (which clearly shows lately is the only time that investment dollars are available to increase production) so in effect the operating company is hog tied financially so production would stagnate and even decline to the dumb Albanian government would be shooting itself in the head (rather than the foot). Wesley Clark should be accompanying French to see these yahoos. There is only so much juice in the orange and the orange has little to no juice left. If Bankers had have been making out like bandits, they would have had not debt by now and a great big bank balance and rifling money out of the country in the form of fat dividends to foreign equity holders. It is six of one....a half dozen of the other....either let the company reinvest in operating income back in the field development and build production into a cash flow generator that will eventually cause income tax to be paid or take measure like this highly stupid one and shoot the golden goose in the head and watch the bullet leave the other side of the goose's head right into the head of the Albanian government. Every cent the company has made (plus borrowings and equity raises) has gone right back into investment in Albania....bunch of stupid b a s t e r d s
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