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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 himmleron Mar 21, 2016 11:15am
451 Views
Post# 24683378

Some here havent seen this before

Some here havent seen this beforeIts simple people.I have' nt got the trading platform to prove it but its always the same.Two things are happening now. and for different reasons.Someone is buying huge amounts of this stock as we speak,hence the huge volume (and range-bound price) ..and the reasons are as I said two-fold.To build up share ownership to veto or accept the deal..or to simply make 30 40 cents on the deal acceptance.
The patterns are mostly the same,and I have had a few of these opportunities before.Ignore all the noise on this board and follow your gut.
IMHO this deal will likely pass,simply because management knows details that will eventually be shared with us retail investors.There is likely a very good reason they are endorsing this deal..
There always is.
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