Big Banc Split Corp T.BNK

Alternate Symbol(s): T.BNK.PR.A

Financial Services Asset Management

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 > Crazy Value Here Now

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Comment by good40on Jan 19, 2016 5:25pm

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Post# 24474081

RE:RE:RE:RE:RE:RE:Crazy Value Here Now

We know that the full $57 million won't be awarded to the government for 2011. The frightening realization that BNK might continue to pay it and allocate towards future liability, is what scares people away for 2016.

There is always a possibility that the years following 2011 will also be audited... maybe a reason why they settled on the $57 million number.

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