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 > Dickheads are at it again

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Comment by wallop13on Jan 14, 2016 11:58am

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Post# 24458185

RE:RE:RE:RE:Dickheads are at it again

braincloud wrote: Little wonder that they are keen on BNK. With the efficiencies they brought to bare they make some money even at these levels. With the $54 hedge they put in place they make roughly $7 per bbl at these levels. Half from the hedge and half from actual production. If and when oil moves higher these guys will be well positioned.

It's amazing. A small, 20% of production hedge I once seen as insignifacent now looks very prudent on managements part (as you said).

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