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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

Comment by wallop13on Jan 12, 2016 3:57pm
141 Views
Post# 24451183

RE:dispute

RE:dispute
grantoue wrote: sounds like the dispute is mainly over the very large amounts of delutants that were used to recover the oil in 2011 and the amount used now to recover the same amount.. BNK says the technology and equipment used in later years changed the consumption of delutant. i was told the initial audit took 14 months too examine 400 pages of reciepts and BNk believes the dispute will be resolved in the next month.


I didn't know that was what the ALBS were questioning. That sounds pretty stupid. I really don't know how the ALBS would know the amount of diluent required. If that were the case, then where is the extra money? I hardly think BNK would challenge the tax authority if the expense was not above board. It will be nice to get this sorted next month, because this is complete BS.
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