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.

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Canadian Banc Corp > BK unit nav to Jan 10 = $20.60

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Post by mousermanon Jan 10, 2023 4:31pm

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BK unit nav to Jan 10 = $20.60

So that would value the commons at $10.60 after distributions have been paid out. BK now has gained 48 cents since the DEC. 30th update. Premium here is $2.85 or about 26.8% , almost the same as the premium on DGS , which is underwater for paying to commons . Hard to figure some days why the supersafe dont deserve a bigger premium than the iffy wannabes...

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