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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

Comment by flintabatteyon Mar 20, 2016 1:35pm
180 Views
Post# 24680919

RE:just a thought

RE:just a thoughtWith the uncertainty of short term oil prices (2-5 years), it is a good decision by management to grow the asset rather than simply sit back, spend only cash flow and watch production dwindle (along with sp). Question remains, will Shell step up rather than watch this world class reservoir be taken out of play forever to them......I think yes, we will see a white knight and management knows it, otherwise the break fee would have been substantially above a paltry $20 million. I am still of the belief that $2.67 will be the ultimate sale price per share.
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