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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 > BK biggest % of cash for any financial split fund.
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Post by mousermanon Jun 13, 2022 9:26am
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Post# 34751405

BK biggest % of cash for any financial split fund.

BK biggest % of cash for any financial split fund.Unless I am wrong BK has more cash at this time than any other split fund i have in my lists. 
The last offering raised  28.6 million $cad, ( which closed JUNE 8)  and prior to that BK's MAY month end report showed  9% in cash (approx: 25 million CAD) for a total of 53.6 million $ cad. 
That would be 17% in cash if my math is correct. Now BK could have invested some of that friday, as the offering did not close until thursday, but I doubt in these market conditions they are buying.
They may start buying today if we see a bigger % pullback.... 
Doesnt look positive to open for the financial sector , but we could see a bounce off the bottom today.
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