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 > Weak Level II

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Comment by braincloudon Jan 26, 2016 3:46pm

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RE:RE:RE:RE:RE:RE:RE:RE:RE:Weak Level II

"it's whether they are required to continue paying the full $57 million in 2016." Good40's statement is completely misleading. This payment schedule was a compromise to release funds, NOT tax payable. I suppose if it takes the whole year for them to complete the audit, I suppose they'll pay it. But, it's my understanding that the audit should be completed this quarter, so the likelihood of them outlaying the entire amount is remote. Whatever they land up paying out, it will be reconciled against other payments to the Albanian's. Net Net it won't impact. I think I had this conversation with GOOD before and he hasn't taken the time to investigate.

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