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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

Comment by mousermanon Jan 11, 2023 5:07pm
249 Views
Post# 35216884

RE:RE:BK unit nav to Jan 10 = $20.60

RE:RE:BK unit nav to Jan 10 = $20.60Well with most of Quadravest split funds, there is a 15 $ UNIT NAV ( made up of one preferred share and one common share), and when the UNIT NAV is over 15$ the common shares get a big distribution.
Preferreds always get distributions , unless the fund goes totally broke.
The more the UNIT NAV is above 15$ the safer the fund is . If the UNIT NAV is on the bubble , Close to 15$ , just before the mid month udpate, it means it is a gamble as to whether it pays this month  to commons or not.
Islesfan wrote:

Hi mouserman,

I'm new to split corp stocks and new to investing in general.  Just wondering what these numbers mean.  I see the great monthly dividend but know sometimes it may not be paid out depending on the NAV?   Any guidance appreciated. 



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