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.

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Big Banc Split Corp > Looking Good

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Comment by braincloudon Dec 07, 2015 3:52pm

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Post# 24362714

RE:RE:RE:RE:RE:RE:Looking Good

Dear Good40, If you read the definition of COSTS as outlined by the Petrol Agreement, Tax ( Profit Tax ) is paid after the cost recovery pool has been covered. What is your point? The cost recovery pool at 2011 was $253 million ( capex) . So no Profit Tax is owed, unless of course, if BNK didn't spend any money that year and they outright lied( not effing likely ) They ( ALBS) get a Royalty and excise tax irrespective of profitability. They ( BNK)sell the oil, the ALBS get their piece which totals 11% of the sale. Price of oil goes up, the more they produce, the more they sell , the bigger the actual dollars the ALBS get. When oil goes down the opposite happens, everyone gets less.

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