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 unit NAV to Sept. 26= approx: $20.25

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Comment by navgodon Sep 29, 2022 2:10pm

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Post# 34995458

RE:RE:RE:RE:RE:BK unit NAV to Sept. 26= approx: $20.25

Mickey2 wrote: so you pay 40,000 x 16 cents per month?

yes, $6400 and that is one of the reasons the NAV of this share has dropped from $14.44 to under $10. Listen I was long BK most of 2021 only selling out after investors got excited about the new distribution of 15% and boosted the premium over NAV to an expensive level.

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