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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

Post by UofTraderon Mar 10, 2016 6:33pm
173 Views
Post# 24645853

Financial Results Drama

Financial Results Drama Many oil companies are reporting losses equal to a third or half of their current share price, BNK reported an annual loss of 0.014 I don't understand how this is HORRIBLE. Bankers was smart enough to allow their production to decline to keep a strong balance sheet unlike many other oil companies that tried to keep up production and deal with insane cash burn, other companies are issuing shares like no tomorrow while Bankers is trying to self fund and not go back to the market in any big way so far. This stock is more correlated to the price of oil rather than the Financial results. The thing I think stopping this company sp from going much higher is the tax dispute, at this point all that matters is that it's resolved regardless of how much we pay. I'm staying long with this company because of their EOR program and how quickly they can get rigs back online. If the dispute is resolved and the recent rig count declines translate into declines in inventory we'll be in a good place.     
 
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