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 > Get out while you still have $ left

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Comment by wallop13on Jan 18, 2016 9:50am

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Post# 24468306

RE:RE:RE:RE:RE:RE:Get out while you still have $ left

VladimirPutin wrote: I agree without the hedges they need to achieve $45+/bbl. They have a 3 1/2 year hedging program though but if oil stays lower for longer then it will start to make it very difficult to hedge as the forward curve deepens.

I actually think CPG needs closer to $66 WTI to maintain the dividend and production past 2017. I think it's reasonable to expect WTI to be at that level by then though. But what will BNK's stock price look like at $66 WTI? Maybe $4.00?????

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Cross border trading in Canada and Australia