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Canadian Banc Corp T.BK

Alternate Symbol(s):  CNDCF | T.BK.PR.A

The Companys investment objectives are (i) to provide holders of Preferred Shares with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the Prime Rate plus 0.75%, with a minimum annual rate of 5.0% and a maximum annual rate of 7.0% (ii) to provide holders of Class A Shares with regular floating rate monthly cash distributions targeted to be at a rate per annum equal to the Prime Rate plus 2.0%, with a minimum targeted annual rate of 5.0% and a maximum targeted annual rate of 10.0% and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012.


TSX:BK - Post by User

Post by mousermanon Feb 17, 2022 10:23pm
212 Views
Post# 34440574

BK unit nav to Feb 17 = $24.98

BK unit nav to Feb 17 = $24.98Fixed up the spreadsheet and it showed a 47cent  loss in the 2 days since the 15th update.
SO at this point the commons are trading at a 20 cent premium in a very volatile market.
Lots of safety built in to the price for BK.  And  the setup  for determining the amount of distribution changes with the stock price , so as the value drops , so too does the amount paid out. That makes it more sustainable as well.
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