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 > Weak Level II

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Comment by good40on Jan 27, 2016 11:32am

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Post# 24497814

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

On the other hand, the audit could show a much smaller percentage than $57 million owing... but could affect the four years following 2011, which haven't been audited.

The government, which hasn't shown to be the easiest business partner... might want to keep this arranged $57 million pre-payment and allocate any refund towards future liability. In such a case, there still would be the liquidity crunch.

In fact, didn't someone show a recent government interview calling for payments up front ?

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