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

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Post by mousermanon Sep 23, 2022 7:27pm

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Post# 34983413

BK unit Nav to Sept 22 = approx: $20.27

My spreadsheet says BK has lost about 78 cents since the midmonth update, and that values the common shares @ $10.27. The premium now has grown to $2.67...with the last trade @ 12.94.
That works out to a premium of almost exactly 26% , just a bit lower than DFN. Difference is that DFN only has just over 60 cents in safety, where BK has over 5$.

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