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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 ChupacabraBuenoon May 03, 2016 10:06am
190 Views
Post# 24836414

RE:RE:RE:RE:RE:RE:In Favour

RE:RE:RE:RE:RE:RE:In FavourAccording to TD Waterhouse the top near-term risk specific to Bankers is: Transaction completion risk. -In other words, the Geo-Jade deal not being completed is about the worst thing that could happen to BNK from their perspective. I think most shareholders agree. An optimist might say that a FOR vote is guaranteed. I'm a realist myself, but I'm sure most people on the buy side of BNK trades since the deal was announced were lured in by the expectation that the deal would go through. They WILL vote FOR as surely as management. There are many millions of shares in their hands and a few millions in management hands. If the deal goes through their BNK is worth $2.20. Otherwise who knows what BNK is worth? - some hope would remain, but little certainty. -GLTA!
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