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 > profit tax

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Comment by good40on Jan 21, 2016 10:58am

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RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:profit tax

Take your head out of the sand braincloud. It is obvious that the government wants profit tax from 2011 forward. The article states that they have collected no profit tax and that they intend to change that.

As I see it, BNK has agreed to pay $57 million by the end of this year, regardless of what it is allocated towards. Future tax or past tax from 2011 and beyond. The government also wants to renegotiate, and that means their take will be greater. Basically saying take it or leave it.

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