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

Big Banc Split Corp

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Post by wittmannon Jan 20, 2016 4:31pm

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Post# 24478309

My pet ape says...

that after he read that news ,he figured it wasnt something that wasnt really known before.The abs must be carefull as the news suggests that they want to renegotiate the terms with not only BNK but,Royal Dutch and Delek as well.So they must be carefull...the last two will simply walk away if the conditions are too severe.Besides, my ape says, why didnt the stock fall off the cliff in todays market?? Truly terrible news would have done it.
Smart ape I have here...I think I'll keep him.

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