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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 05, 2015 8:34am
291 Views
Post# 24357286

the future for bankers hinges on the results of the audit

the future for bankers hinges on the results of the auditThe business model will not work if Bankers has to pay a minimum of $57 million more in taxes each year going forward....that amounts to aggravated financial rape. News clips have indicated that they are currently auditing 2012 and 2013. If the 2012 "independent audit" works out, likely the morons in the tax department will put away their guns. If not then Bankers will have to move on as they will be caught in the precarious position of trying to develop the field without the necessary free cash flow to do so. And unless the Albanians have an end game of operating and developing the field themselves attracting an international operator will be very difficult seeing how they treated a highly professional and responsible developer and operator. The Albanian government is comprised of a bunch of jaded morons that simply cannot see the forest for the trees. Even pulling off this stunt at this point in time with crude at just over $40 per BBL is ample evidence of that. Hope the audit silences these morons once and for all
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