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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

Canadian Banc Corp > Curious
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Comment by Kadiddelhopperon May 25, 2022 9:58pm
119 Views
Post# 34708014

RE:Curious

RE:CuriousI have heard this to be a kind of Defensive posture, the Company puts together and gets Approved annually...just in  case it might be needed in  troubled Market. The current one from 2021 to just about now is expiring with no Buy-backs having been required, and expect that this new one will be put on the shelf for the coming 12 months, " just in case "! 
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