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 > Any day ?

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Comment by ChupacabraBuenoon Aug 23, 2016 12:40pm

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Post# 25168146

RE:RE:RE:RE:RE:RE:Any day ?

gibbonsj, what richc3 said was that he was impressed how well BNK (not management - that's a different matter) has kept it together, during the oil price dip. As your claim that "the only thing holding this together is the buyout" may not be too far off the mark, it is a very good sign that BNK "kept it together" while the oil price dropped. It indicates that most holders see little risk to the deal - ergo short term oil price fluctuations of little concern. Because without the buyout the SP almost certainly would drop (but not likely to the .50 range, as others have pointed out). -GLTA

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