Canadian Banc Corp T.BK

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

Financial Services Asset Management

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 DEC 5 = approx: $21.07

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Comment by mousermanon Dec 07, 2022 3:08pm

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Post# 35157166

RE:RE:BK unit nav to DEC 5 = approx: $21.07

It is good allright... FFN preferreds are quite beat up at this point as well, but dont have quite the coverage BK has. Yield on the FFN preferreds today is just around 8.2%. today with the last trade @$9.46.

HermannHaller wrote: The pref shares, with this latest move up in the prime rate, will now yield 7.9% (based on current offer price of $10.08).

That's a pretty juicy yield for something with an asset coverage of over 200%.

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